Mill owners agree to reduce cotton yarn prices

25 Jun '10

2 min read

The Hon'ble Union Minister of Textiles, Thiru. Dayanidhi Maran has convened and presided over the meeting on24th June 2010 Coimbatore.

In the meeting, the Textile representatives from all in India basis, Tirupur Exporters Association, (TEA), Confederation of Indian Textile Industry (CITI), Apparel Export Promotion Council (AEPC), The Southern India Mills' Association (SIMA)and Tamilnadu Spinning Mills Association (TASMA) participated and deliberated on the textile business.

From TEA, Shri.A.Sakthivel President, Shri.G. Karthikeyan, General Secretary and Shri.P.Vidhya Prakash, Joint Secretary attended the meeting and from AEPC, Shri.Rajendra J. Hinduja, Vice Chairman participated in the meeting.

From CITI, Shri. Shishir Jaipuria, Chairman, Shri.S.V.Arumugam, Deputy Chairman and Shri.Prem Malik, Vice Chairman attended the meeting.

From SIMA Chairman Shri. Thulasidharan and other members participated. TASMA representatives also participated.

This was the first time all stakeholders of textile industry have came together and discussed the issue to arrive an amicable solution. All the participants congratulated and thanked the Hon'ble Union Minister of Textiles, Thiru.Dayanidhi Maran for taking this initiative.

Shri.A. Sakthivel, President, TEA explained the current export scenario and pointed out that the increased in cotton yarn prices had affected knitwear exports drastically. From mills side, the representatives mention the increase in cotton prices has been the reason for increase in cotton yarn prices.

The Hon'ble Union Minister of Textiles emphasized the point that whatever the reason, it is more important to give support to small enterprises, knitwear sector.

Subsequently, representatives of mill owners and knitwear sector discussed the issue and agreed for the following prices.

COUNT EXISTINGRATE REDUCEDRATE
40sCHY 194/-net 185/-net
34sCHY 184/-” 178/-”
30sCHY 177/-” 171/-”
24sCHY 165/-” 159/-”
20sCHY 157/-” 151/-”

The reduced rates will come into immediate effect.

The Hon'ble Union Minister of Textiles has strongly wished and urged for further reduction of yarn prices. The mill owners have agreed to reduce cotton yarn prices as and when the cotton prices decline from the existing prices.

Finally, everyone thanked the Hon'ble Union Minister of Textiles, Thiru. Dayanidhi Maran for giving much important and support to textile industry and export sector.

Tirupur Exporters' Association, (TEA)

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