Home / Knowledge / News / Textiles / ICF seeks funds for ginners during cotton arrival period
ICF seeks funds for ginners during cotton arrival period
05
Sep '12
Stating that cotton ginners in the country each year spend about Rs. 480 billion for buying and ginning cotton during the first 16 weeks of cotton arrival, Indian Cotton Federation (ICF) President J Thulasidharan has called for facilitating funds to these ginners at concessional rates.
 
Responding to the call made during a conference on cotton, V Srinivas, Joint Secretary, Textile Ministry, directed to formulate a draft proposal in this regard, so that he can table the same before the Finance Ministry for necessary action.
 
Highlighting the need for in-time compilation of data on cotton crop, the Textile Ministry official said the Cotton Distribution (Collection of Statistics) Bill 2012 has already been formulated to facilitate a system for enhanced data transparency and ensure availability of accurate data for policy making.
 
He said they intend to introduce the legislation in the coming months, to bestow the country with a data collection system that would significantly strengthen its databases.
 
Further, he also assured ICF that all required action would be initiated in lines with their request for branding Indian cotton through Textile Export and Promotion Council, mainly in view of the fact that India exports about 12.7 million bales of cotton to world markets.
 
India’s innate strength in cotton yarn needs to be boosted through fabric manufacturing and processing, he noted.
 
Meanwhile, on the Confederation of Indian Textile Industry (CITI)’s SV Arumugam’s request for waiving the one percent Market Committee Cess, G Santhanam, Secretary, Textile and Handloom, Tamil Nadu Government gave an assurance to take up the issue with the state Chief Minister.
 
Mr. Arumugam also called on the Tamil Nadu government to slash sales tax on cotton yarn from the existing five percent to two percent, as it would help the state’s industry to better compete with other states like Kerala, Andhra Pradesh and Karnataka, which levy only two percent tax.
 

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 6th Dec 2016

Alibaba merges Juhuasuan with Tmall.com

In a business reorganisation, aimed at making it easier for merchants ...

Courtesy: EFI Reggiani

Textiles | On 6th Dec 2016

EFI Reggiani shows inkjet textile solutions at India ITME

EFI Reggiani, a leading technology provider of a full range of...

Textiles | On 6th Dec 2016

Indonesian textile sector urges govt to regulate imports

The Indonesian textile industry urged its government to regulate...

Interviews View All

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mark Paterson
Technical Absorbents Ltd

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Karan Arora
Karan Arora

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search