The Federation of All Trade and Industry Associations of Erode District has urged the Central government to ban online trading of cotton in order to bring down the prices of cotton yarn.

Members adopted a resolution to this effect at the executive committee meeting of the federation held here on Thursday.

The federation wanted the government to impose a ban on the export of cotton yarn to protect the interests of domestic garment and weaving industries. It also demanded the establishment of ‘Yarn Banks' in Erode, Karur, Tiruppur and Coimbatore regions to ensure adequate supply of yarn to the textile industry.

Apart from banning the export of cotton yarn, the Centre should bring it under the Essential Commodities Act so that the yarn price is on “cost plus basis” instead of “supply and demand basis”, members stressed.

While urging the State government to ensure uninterrupted supply of electricity to the power looms, the federation members wanted more subsidy programmes for the wind energy projects.

Welcoming the Central government's move to provide energy-efficient compact fluorescent lamps (CFL) at Rs. 15 each across the country, the federation wanted the government to reduce the value added tax imposed on these lamps from 12.5 percent to 4 percent immediately.

Members appealed to the State government to conduct a meeting to discuss the construction of a flyover near Panneerselvam Park. The meeting should be held before the construction works begin. The government should also commence the works for the ring road project immediately, they stressed. Efforts should be made to allot adequate space in the VOC Park for the establishment of a permanent exhibition centre. It would benefit the small and medium enterprises to a great extent, members said in the resolution.

Federation president N. Sivanesan presided over the meeting. Representatives of various associations participated.

Keywords: Online trading

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