Coimbatore: Textile Entrepreneurs seek the neglect of cotton import duty to install during the increase in yarn prices that have placed the industry under pressure for the past year.
Prabhu Dhamodharan, the Convention of the Indian Texpreneurs Federation (ITF) which has more than 450 textile entrepreneurs as members, say the price of cotton Raw increased 67% in the past 12 months.
“The union government must remove import duties on cotton to reduce cotton prices,” he said.
Really, cotton costs should go down in recent weeks.
But the staggered cotton supply by farmers has maintained high prices.
The role of traders in collecting cotton is also quoted as a reason for price increases.
“Cotton traders are involved in hoarding, which has created artificial deficiencies which resulted in cost inflation.
The import is also difficult because the government has imposed 10% import duty in the budget last year,” said the exporter of Tirupur and the Association of Manufacturers (Themes) M Muthautathinam.
“Yarn prices have increased by more than 150 / kg in one year.
On Saturday alone, there are 30 increases, taking prices up to 360.
It is expected to rise,” he said.
Jaja.
M over the increase in cotton prices.
“But the survival of the textile industry, which is also labor intensive, is the responsibility of the government because it ensures the livelihood of millions of families.
If this industry suffers, cotton farmers will eventually suffer.
Remove cotton import duty will be an immediate action to reduce prices.”