Interviews
NITMA shocked over levy on cotton yarns exports
15 Apr '10
3 min read
NITMA President stated that the Government needs to give additional sops to the garment sector and withdraw it in a calibrated manner forcing them to turn efficient and a competitive sector. He has pointed out the yarn is already available at lesser price than international costs to local garment sector at their door step. The government should let free trade mechanism to operate and refrain from favouring downstream textile industry at the expense of spinners.
NITMA President appealed to the government not to take any hasty decision and such short term/ ad-hoc measures to restrict yarn export, suspension of DEPB benefits or levy of prohibitive duties on cotton yarn exports would do immense harm not only to the spinning industry but would also hurt the downstream sectors and the whole economy in the long term, since no one would further invest in this sector leaving large quantities of cotton grown by our farmers unutilized and leading to shortages of yarn in the coming years.
NITMA President appealed to the government not to take any hasty decision and such short term/ ad-hoc measures to restrict yarn export, suspension of DEPB benefits or levy of prohibitive duties on cotton yarn exports would do immense harm not only to the spinning industry but would also hurt the downstream sectors and the whole economy in the long term, since no one would further invest in this sector leaving large quantities of cotton grown by our farmers unutilized and leading to shortages of yarn in the coming years.
Northern India Textile Mills Association (NITMA)
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