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Textile industry representatives raise concern over cotton & yarn prices
06
Sep '11
Representatives of the textile industry conversed over the issues, trends and competitiveness of the industry at international level and regarding the modes to persist with the ongoing positive trend, during a two-day CEO Conference held in Coimbatore.

Sharing his views at the seminar organised by the Southern India Mills' Association (SIMA), BK Patodia, Chairman and Managing Director of GTN Group stated that the textile mills usually do not keep yarn stocks in excess of 15 to 20 days of their requirement.

But, during the last fiscal as a ban was imposed on yarn exports, the mills were held back from exporting their produce for a period of around two months due to which stocks with them mounted.

Now, though the ban has been rolled back and the mills are free to export yarn, they are not being able to reap higher returns for the same.

This is mainly because around 90 percent of the total cotton cultivation acreage in the country was under Bt cotton, which has resulted in a rise in yields.

Total cotton output for the current fiscal is projected to come to 35.5 million bales and it is likely to touch 40 million bales within the next two years.

Mr. Patodia said that in order to keep prices stable, the local mills should consider making timely and regular purchase of raw materials.

Former SIMA Chairman J. Thulasidharan sought that the Centre should as soon as possible introduce the National Fibre Policy so as to afford the local textile industry a level playing and also to ensure stability of prices.

Deputy Chairman of Cotton Textiles Export Promotion Council, Manickam Ramaswami said that over the next three years, India's textile and clothing industry would exercise a hold over 40 to 50 percent share of global yarn market and over 20 to 25 percent of grey cloth market.

However, a stable Government policy with no quantitative ceiling on exports and modular bailout package are vital to achieve this goal, he said and added that the Commerce Ministry should promote exports. Further, all the textile industry segments too need to boost their competitiveness in world market, he added.

He said that there is a need to grasp the interdependency of different segments of the industry. Farmers should be motivated to undertake cotton cultivation so that there is excess availability of it for exports, he said.

In addition, he said the textile industrial associations' cotton development and research arms should look at developing cotton derivatives.

Fibre2fashion News Desk - India

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