Home / Knowledge / News / Textiles / Scrap or restrict hank yarn obligation: Spinner trade body
Scrap or restrict hank yarn obligation: Spinner trade body
12
Mar '15
Considering the reducing demand for hank yarns, the union government should either scrap hank yarn obligation or restrict it to 10 per cent instead of the mandated 40 per cent, said an official of a spinning trade body.

Speaking to reporters, D Prabhu, secretary of Texpreneurs Forum said that there was hardly any demand for hank yarns due to the Textile Upgradation Scheme and other initiatives of the government.

The hank yarn obligation was imposed on spinning in earlier times with the intention of providing necessary raw material to handloom weavers.

“However, most of the handloom weavers have now moved on to powerlooms or automatic looms, which has reduced demand for hank yarns,” Prabhu observed.

According to Prabhu, Tamil Nadu produces 3.05 crore kg of hank yarn per month, as against the requirement of 16 lakh kg.

“This has resulted in excess production of 1,880 per cent that is 18 times more than the requirement,” he noted.

Prabhu welcomed the steps taken by the Union Textiles Ministry to review hank yarn policy by assigning the same to an external consulting agency.

He said the forum, which is an association of spinning mills is confident that an unbiased review will arrive at a conclusion, similar to the opinion of the forum.

The Forum also wants the government to shift the Office of Textile Commissioner from Mumbai to major textiles producing states like Tamil Nadu or Gujarat. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 17th Jan 2017

GST rollout from July 1; states to control small taxpayers

The Centre and states have reached a consensus on the issue of dual...

Textiles | On 17th Jan 2017

Reliance Industries net increases 3.6% in Q3FY17

In the three months ended December 31, 2016, India’s biggest private...

Courtesy: Carnegie Fabrics

Textiles | On 17th Jan 2017

Calera Capital acquires majority stake in Carnegie Fabrics

Private equity firm Calera Capital has bought a majority stake in...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Steve Cole
Xerium Technologies

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

Paolo Ocleppo
Sandvik Hyperion

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

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Yash P. Kotak
Bombay Hemp Company

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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
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