Home / Knowledge / News / Textiles / Spinning units halt yarn production in South India
Spinning units halt yarn production in South India
Jul '11
In view of the plenty of stocks piled up during the past three months, about 600 spinning units associated with the South India Spinners Association (SISPA) have halted yarn production, initially for a 10-day period.

This step will enable the spinners to liquidate their huge stocks and help save the sector from the ongoing crisis, brought about by the Government's mismatching policy, said SV Devarajan, President of SISPA.

The SISPA President urged the Government to immediately intervene and restore the incentives earlier granted for yarn exports, like the Duty Entitlement Pass Book and Duty Draw Back schemes. He also asked the Government to regulate export of cotton by maintaining adequate buffer stock.

Some other demands put forward by the SISPA are a year's moratorium on repayment of interest and loans, conversion of the eroded working capital into long-term loans at low interest rate, withdrawal of 10.3 percent export duty on branded apparels, and reduction of bank interest rate from 15.75 percent to 10 percent.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 6th Dec 2016

Garments, yarn export entitlement quota extended for 1 yr

Indian government has extended the export entitlement quota for...

Textiles | On 6th Dec 2016

Cash inflow will revive sales: Textile industry

The textile industry representatives are hopeful of revival of...

Courtesy: SIMA

Textiles | On 6th Dec 2016

Amma gave special attention for textile growth in TN: SIMA

Former Tamil Nadu chief minister J Jayalalithaa paid special...

Interviews View All

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Karan Arora
Karan Arora

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

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

December 2016

December 2016

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


Browse Our Archives


Advanced Search