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India's cotton yarn production to rise in 2012-13

06
Sep '12
Smt. Panabaaka Lakshmi, Minister of State for Textiles has informed that cotton production has increased from 305 lac bales in 2009-10 to 339 lac bales in 2010-11 and an estimated 353 lac bales in 2011-12.

Cotton yarn production has varied from 3079 million Kg in 2009-10 to 3490 million Kg in 2010-11 and an estimated 3126 million kg in 2011-12.

A decline was witnessed in cotton yarn production in 2011-12 due to stress levels of Textiles industry. The trend has been reversed in 2012-13

The production of cotton yarn declined in 2011-12 due to sudden crash in prices of cotton/cotton yarn leaving industry with high cost inventories.

Given the stress levels in Textiles industry, Government has issued directions to Banks for restructuring of textiles industry loans on a case by case basis in accordance with the Reserve Bank of India’s prudential guidelines on re-structuring of advances by banks.

The debt restructuring package covers around 307 Textiles Mills in private sector and around 200 readymade garments (RMG) factories in SME sector. The debt restructuring exercise will help boost textiles industry’s growth in the country and provide re-employment to textile workers. 

Ministry of Textiles


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