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Cotton yarn prices to calm down by Dec 15 – Maran
22
Nov '10
While advising spinners in the country, to not take advantage of the current scenario, Dayanidhi Maran said, cotton yarn prices would stabilize by December 15.

Dayanidhi Maran was in Chennai to officially launch a road show titled, “Scheme for Integrated Textile Parks,” under a public and private sector partnership.

He specifically told the spinning sector to not take advantage of rising cotton yarn prices as they had been steadily increasingly and in the process, create undue problems, as the government is very much concerned about the weavers.

On the contentious issue of Technology Up-gradation Fund Scheme (TUFS), he said the Cabinet Committee would clear a proposal to meet the sectoral requirements by the year-end.

Speaking about the Scheme for Integrated Textile Parks (STIPs), Maran said the textile ministry had sanctioned about 65 STIPs since 2005, of which 25 were operational and would attract investments worth about Rs 190 billion and provide employment to 500,000 people.

He lamented the poor response to the SITPs from Tamil Nadu, although about 55 percent of textiles and 60 percent of cotton yarn is produced in the state and citied that, it was the main reason for launching the road show in the state.

He also added by saying that, road shows would also be organised in Coimbatore, Bangalore, Hyderabad, Mumbai and Ahmedabad.

Fibre2fashion News Desk - India

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