MK Stalin, Chief Minister, Tamil Nadu has urged the Union Government to avert a crisis gripping the powerlooms, apparel and home textile units in Tamil Nadu owing to the 11 per cent import duty on cotton and asked the Government to control the rising price of cotton and yarn, and support the textile industry.
The Chief Minister wrote a letter to Union Textile Minister Piyush Goyal in this regard and requested to urgently intervene in this matter to resolve this precarious situation that has widespread ramifications.
“The apparel and garment manufacturers in Tamil Nadu have been representing the grim situation of cotton and yarn price volatility and its adverse impact on the price of fabrics and garments,” the letter reads. CM referred to his earlier letter seeking the removal of the 11 per cent import duty on cotton to avoid further speculation in the coming months.
The CM also had sought revamping the commercial terms and conditions prescribed by the CCI for e-auction of cotton by reducing the minimum lot size to 500 bales, which is sustainable for the MSMEs.
