Coimbatore

Textile industry asked to reduce cotton, yarn exports

Union Textile Minister Piyush Goyal has urged the textile industry to reduce cotton and yarn exports voluntarily. 

The Minister held a meeting in New Delhi on Tuesday with cotton textile value chain stakeholders because of high cotton and yarn prices. Several textile clusters in Tamil Nadu went on strike on Monday and Tuesday demanding measures to control the raw material prices.

Industry representatives, who participated in the meeting on Tuesday, said the Minister called for voluntary reduction of cotton and yarn exports to bring down prices.

He also said contracts made till September 30 for cotton imports would be permitted duty-free imports. A high level committee would be formed to look at increasing cotton productivity.

The Minister also asked the industry to look at long-term contract with cotton farmers for better price stability.


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Printable version | May 24, 2022 10:03:35 pm | https://www.thehindu.com/news/cities/Coimbatore/textile-industry-asked-to-reduce-cotton-yarn-exports/article65423869.ece