Home / Knowledge / News / Textiles / Textile industry seeks removal of hank yarn obligation
Textile industry seeks removal of hank yarn obligation
14
Oct '15
Indian Texpreneurs Federation (ITF), a Coimbatore based premier association for textiles, has urged the Centre to remove the hank yarn obligation, an obligation which compels yarn manufacturers to produce 40 per cent of their total yarn as hank yarn for the benefit of the handloom sector, according to media reports.

In a letter submitted to Prime Minister Narendra Modi, ITF said there is an excess of hank yarn in the country with comparatively lesser consumption.

The hank yarn obligation was originally imposed on yarn manufacturers in a notification issued in 2003 under the Essential Commodities Act, 1955 to ensure a steady supply of hank yarn, a basic raw material in handloom weaving, to the handloom sector at reasonable rates.

Most of the handloom weavers have now moved on to powerlooms or automatic looms, which has reduced the demand for hank yarns, according to ITF secretary D Prabhu. “There is hardly any demand for hank yarn due to Textile Upgradation Scheme and other initiatives of the government,” he feels.

Tamil Nadu produces 3.05 crore kg of hank yarn per month, as against the requirement of 16 lakh kg, which results in excess production of 1,880 per cent which is 18 times more than the requirement.

In such a scenario, ITF is insisting on the removal of hank yarn obligation altogether or to reduce the slab of 40 per cent to 10 per cent.

In the letter, ITF said there was an urgent need for textile-focused Free Trade Agreements (FTAs) with existing and emerging markets. It also urged the government to accommodate textiles in the lower slab of taxation in the proposed Goods and Service Tax (GST), which has the potential to transform and boost the Indian economy. (MCJ)

Fibre2Fashion News Desk - india


Must ReadView All

Courtesy: BekaertDeslee

Textiles | On 23rd Oct 2017

BekaertDeslee to expand North American facility

BekaertDeslee, one of the largest manufacturer of mattress textiles...

Courtesy: A&E

Textiles | On 23rd Oct 2017

A&E unveils Magic using Repreve sewing thread

American & Efird (A&E), a leading developer of industrial and...

Courtesy: Messe Frankfurt

Textiles | On 23rd Oct 2017

Over 4,000 exhibitors attend Intertextile Shanghai 2017

Another successful Intertextile Shanghai Apparel Fabrics has wrapped...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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

October 2017

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
77.1%
No
12.9%
Skip
10.0%

Total Votes: 70

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
61.4%
No
28.6%
Skip
10.0%

Total Votes: 70

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
85.7%
No
10.0%
Skip
4.3%

Total Votes: 70

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
75.7%
No
11.4%
Skip
12.9%

Total Votes: 70


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