Home / Knowledge / News / Textiles / TEA appeals to mills for reducing yarn rates
TEA appeals to mills for reducing yarn rates
11
Jul '08
Shri A Sakthivel
Shri A Sakthivel
The Central Government has conceded Mills Associations demands and announced zero duty on cotton imports yesterday (09.07.2008), thereby the basic customs duty of 10% and Special Additional Duty of 4% have been removed.

In addition, the Finance Ministry has also now withdrawn Duty Drawback benefit of 1% of FOB value of raw cotton exports.

Consequent to this announcement, unfortunately, an unexpected way, the Textile Mills have raised the yarn rates(10.7.2008) by Rs. 5/- for coarser counts.

In a Press Release issued, Shri. A. Sakthivel, President, TEA said that when the yarn prices have been hiked by about 25% in the past two months, the increase of yarn rates by Rs. 5/- by mills at this juncture is totally unjustifiable and added that the beleaguered exporters are neither in a position to pass on the increased cost to buyers nor absorb the cost.

Shri. A. Sakthivel mentioned that considering the crucial situation, the Textile Mills should reduce the yarn rates and follow win win approach for sustainability of Value added business.

Moreover, Shri. A. Sakthivel was under apprehension that in case, if the textile Mills are not considering the genuine appeal for reduction of yarn rates, then naturally, the garment exports will go out of the country and buyers will turn their attention to our main competing countries, China, Bangladesh, Pakistan, Vietnam and Cambodia.

Shri. A. Sakthivel finally appealed that in the larger interest of whole Textile Industry and our country's economy, the Textile Mills Associations should advise their members not to increase the yarn rates.

TIRUPUR EXPORTERS' ASSOCIATION


Must ReadView All

US announces final CVD on fine denier PSF from China, India

Textiles | On 19th Jan 2018

US announces final CVD on fine denier PSF from China, India

The US secretary of commerce Wilbur Ross recently announced the...

EU consumers to gain from cheaper, safer, better e-payments

Apparel/Garments | On 19th Jan 2018

EU consumers to gain from cheaper, safer, better e-payments

European consumers can now reap the full benefits of paying online...

Courtesy: Epson

Textiles | On 19th Jan 2018

Epson's new SC F2100 enhances DTG printing

Epson, a leader in inkjet printers and digital textile printing...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Victor Chao
Esmetex

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

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Giorgio Mantovani
Corman S.p.A

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

Mohammad Hassan
Biax Fiberfilm

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

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 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search