Home / Knowledge / News / Apparel/Garments / TEA seeks calibration in cotton yarn exports
TEA seeks calibration in cotton yarn exports
04
Apr '11
The Directorate General of Foreign Trade (DGFT) should not lift the ceiling imposed on export of cotton yarn, as this would have a direct effect on the downstream industries and would not only lead to a dearth of the commodity, but would also cause its prices to shoot up, the Tirupur Exporters Association (TEA) claimed.

As stated under the government notification issued on March 1, the DGFT has relaxed the export rules for cotton yarn and unlike under the earlier policy where exports were allowed under licence, the DGFT now allows cotton yarn exports after registrating with it.

TEA President, A Sakthivel in a statement said that, the notification has been issued at a time when the knitwear sector is already confronted with several issues, following the rise in the yarn prices and closure of dyeing factories.

It would become difficult for the domestic value-added garment sector to compete with other countries that import cotton yarn from India, owing to the comparative benefits that the exporters in these countries enjoy over the Indian exporters in terms of the bank interest rates, power charges, VAT refunds, etc. Also, this would enhance the competiveness of the exporters in those competing nations who would undermine the market share of Indian exporters, he said.

This would not only cause the sector to lose the extra foreign exchange, but would even cause lakhs of workers to lose their jobs.

The TEA President even forwarded a letter to the Union Commerce and Industry Minister Anand Sharma, requesting him to implement month-wise or quarterly calibration of yarn exports or impose count-wise cap in the range from 1s to 40s and to cap yarn exports at 720 million kg, like in the last fiscal year.

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Michael Kors

Fashion | On 25th Jul 2017

Michael Kors to acquire Jimmy Choo

Global fashion luxury brand Michael Kors Holdings Limited has reached ...

Apparel/Garments | On 25th Jul 2017

VF Corp posts $2.4 billion revenue for Q2 2017

VF Corporation has recorded revenue of $2.4 billion, up 2 per cent,...

Textiles | On 25th Jul 2017

Global growth to pick up in 2017 and 2018: IMF

The pickup in global growth anticipated in the April World Economic...

Interviews View All

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X