M.K. Stalin, CM Tamil Nadu urges centre for 'Removal Of Import Duties On Cotton'
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30 November 2021, Mumbai:
The Chief Minister requested the Union Textiles Minister to take steps to remedy the situation and protect the industry and jobs.
With the intention of fostering the health of Micro Small and Medium Enterprises, Tamil Nadu Chief Minister M K Stalin has urged the Centre to remove the 11 percent import duty levied on cotton, rework terms for e-auction of cotton and extend 5 percent interest subvention to spinning mills for procurement.
Citing representations from apparel manufacturers of Tamil Nadu on the "grave situation of cotton and yarn price volatility and its impact on the prices of fabrics and garments," Stalin in a letter to Union Textiles Minister Piyush Goyal sought measures to address the situation and protect the textile industry and prevent job losses.
"As you are aware, the textile industry is the second-largest employment provider in the state and Tamil Nadu accounts for 1/3rd size of the textile business of the country. The present crisis has led to mass cancellation of export orders and hardships in fulfilling long-term export commitments.
" If this situation is not addressed, a large number of apparel and textile units may soon become unviable resulting in closure and consequent large-scale unemployment and industrial unrest.
OUTLOOK (The news article has not been edited by DFU Publications staff)
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