Piyush Goyal: To Hold Textile Industry Multi-Stakeholders' Meeting Today

17 May 2022, Mumbai:

*To give relief to the textile industry, Union Textiles Minister Piyush Goyal is going to hold a meeting with the stakeholders of the industry. Under the chairmanship of Piyush Goyal, this meeting is going to be held today at 1 pm. Cotton, textile, and yarn industries and other stakeholders of the industry will be present at this meeting.

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*According to the information, in this meeting, the Textile Minister will discuss many issues including giving relief to the textile industry, controlling the ever-increasing prices, and reducing the duty.

RELEVANT NEWS CITI hails withdrawal of import duty on Cotton

Cotton prices in India have risen due to strong demand from the cotton market, diminishing stockpiles, and a 10% import levy on cotton. In July, the price of cotton increased by $3,800 per confection in 15 days.

The sharp rise in prices has thrown the business into disarray and rendered Indian exporters uncompetitive.

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CREDITS: *Zeebiz