Home / Knowledge / News / Textiles / SISPA urges Indian govt to maintain minimum cotton stocks
SISPA urges Indian govt to maintain minimum cotton stocks
Oct '12
In order to ensure stability in prices of cotton, the South India Spinners Association (SISPA) has called on the Government of India to keep a minimum stock of cotton, prior to permitting exports.
The association also urged the Centre to restore the concession under the Technology Upgradation Fund Scheme (TUFS) for June 29, 2010, to April 27, 2011, when the Government kept it suspended.
In the resolution adopted at its recent AGM, SISPA noted that majority of the mills suffered heavy losses during last year, as the Centre allowed cotton exports even before the harvested cotton arrived in the domestic market, which resulted in price fluctuations. 
Stating that the condition is no different this year, the association urged the Centre to firmly adhere to the decision taken by the Group of Ministries to keep a minimum stock of five million bales of cotton.
Reminding that awaiting allocation of funds, the Textile Ministry kept TUFS suspended for a 10-month period during 2010-11, SISPA called on the Centre to reinstate the scheme for the suspended period so as to allow qualifying mills to take advantage from it. 
The association claimed that textile mills are currently finding it difficult to timely repay their machinery term loans availed under TUFS and requested the Government to order banks to allow a two-year moratorium period for loan repayment.
SISPA also urged the Tamil Nadu state government to slash the value added tax (VAT) on cotton produced within the state and on cone yarn from existing five percent to two percent.
Also, it mentioned that waste cotton being a waste and not an agricultural by-product, the one percent market committee cess levied on spinning mills should be abolished.
It also demanded that the state government should maintain uniformity in power-cut throughout the state. 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 10th Dec 2016

India’s 2016-17 cotton import to touch 17 lakh bales

The import of cotton from international markets by spinning mills in...

Textiles | On 10th Dec 2016

US textile & apparel imports fall 6.50% in Jan-Oct ’16

The import of textiles and apparel by United States dropped 6.50 per...

Unipar Carbocloro plant in the city of Cubatão, São Paulo state. Courtesy: Wikipedia

Textiles | On 10th Dec 2016

Brazil’s CADE clears Solvay’s 70.59% stake sale in Indupa

Brazil’s administrative council for economic defence (CADE) has...

Interviews View All

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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...

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