Home / Knowledge / News / Textiles / Indian govt urges cotton yarn producers to cut prices
Indian govt urges cotton yarn producers to cut prices
11
Apr '13
Textiles Ministry of India has called on the domestic cotton yarn producers to maintain the prices of their produce at low levels, so as to avert any negative impact on any of the textile industry segments, particularly the powerloom sector, ZeeBiz said quoting PTI.
 
During a stakeholders meeting held to discuss the issues confronting the country’s textile and apparel industry, Textiles Secretary Zohra Chatterjee urged the cotton yarn producers to reduce prices to avoid the need for any Government intervention, Apparel Export Promotion Council (AEPC) Chairman A Sakthivel said.
 
Over the past few weeks, cotton yarn prices have experienced a sharp rise of about 20 percent causing several powerlooms to face difficulties, consequently leading to job losses.
 
Besides powerlooms, it has also impacted other sectors like manufacturers of garments and made-ups for local and export markets, Mr. Sakthivel said.
 
He said high yarn prices have also pushed up the cotton fabric prices in home market and has thus caused an inequilibrium in the entire textile chain.
 
This is because local garment exporters procure orders four to six months in advance quoting prices on the basis of cotton yarn prices then prevailing in the market. But now as the cotton yarn prices have gone up unexpectedly, all their calculations have gone wrong, and they cannot even add new profit margin, as most of the times the orders have been grabbed amid tough competition, the AEPC Chairman explained.
 
AEPC urged the government to ban export of cotton yarn and allow its duty-free imports.
 
Representatives of Handicrafts and Handlooms Exports Corporation, Texprocil, Garment Exporters Association and Confederation of Indian Textile Industry also attended the meeting, alongside AEPC.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Rahuul Jashnani
Jashn

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

Mandeep Nagi
Shades of India

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

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Urs Stalder
Sanitized AG

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

Karan Arora
Karan Arora

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

Pranav Mishra
Huemn

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search