SITMA welcomes Centre’s move to withdraw cotton export incentives

April 22, 2010 12:44 pm | Updated 12:44 pm IST - Erode

The South India Textile Manufacturer’s Association (SITMA) has welcomed the Centre’s move to withdraw incentives for export of cotton yarn as part of steps to moderate the commodity prices in the domestic market.

Hailing the announcement, SITMA Chairman M.S. Mathivanan hoped that the yarn prices would now come down.

A major section of powerloom workers are on strike protesting the ‘abnormal’ increase in cotton yarn price.

He said for the past 15 days no powerloom owner was buying the yarn, due to hike in price. ‘Only those who are having stock and also export orders are operating powerlooms.’

He wanted the government to take further steps to bring down the yarn prices and a ban on cotton exports.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.