Interviews
Enable textile sector to have healthy competition - SIMA Chief
12 May '09
4 min read
SIMA Chairman has stated that the recent government policies have been framed in such a way that the policies are not only beneficial to the traders but also to our competing countries like Pakistan, China, Thailand, Bangladesh, etc. Now the Indian textile industry has to depend on the traders for their future requirement of cotton.
The cotton traders once entered the market in recent past made CCI to increase the cotton price over Rs.2000 per candy. Dr Srinivasan has opined that the fair way of disposing the cotton procured by CCI and NAFED could have been either sell at market price or providing a uniform discount to all buyers irrespective of quantities.
It has been reported that CCI has already exhausted the stock and only NAFED is holding the stock. SIMA Chairman has appealed to the Government to make NAFED to extend uniform discount in such a way that all the small and medium mills are benefited rather than the traders again.
SIMA Chief has also appealed to the Government to make necessary changes in the Minimum Support Prices, immediately withdraw the 5% export incentive offered for cotton and also the bulk discount to enable the ailing textile industry to have a healthy competition and provide a special package for working capital, viz., interest rate at 7%, margin money at 10% and credit period upto 9 months to sustain its survival.
The cotton traders once entered the market in recent past made CCI to increase the cotton price over Rs.2000 per candy. Dr Srinivasan has opined that the fair way of disposing the cotton procured by CCI and NAFED could have been either sell at market price or providing a uniform discount to all buyers irrespective of quantities.
It has been reported that CCI has already exhausted the stock and only NAFED is holding the stock. SIMA Chairman has appealed to the Government to make NAFED to extend uniform discount in such a way that all the small and medium mills are benefited rather than the traders again.
SIMA Chief has also appealed to the Government to make necessary changes in the Minimum Support Prices, immediately withdraw the 5% export incentive offered for cotton and also the bulk discount to enable the ailing textile industry to have a healthy competition and provide a special package for working capital, viz., interest rate at 7%, margin money at 10% and credit period upto 9 months to sustain its survival.
Southern India Mills' Association (Sima)
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