Govt undertakes strategies to up-lift export of cotton goods

26 Mar '08

2 min read

The Government has finally considered the grievances of the Indian weavers and has decided to provide sufficient quantity of cotton raw material to them. Besides, the authority will also ensure that export of value-added goods, produced henceforth, gets a boost.

The Union Government also has plans to announce restriction on export of excessive cotton from the country. This was stated by EVKS Elangovan, Minister of State for Commerce and Industry on March 24.

While talking to the media, Mr Elangovan stated that the Government was aware about the miseries suffered by the weavers due to increasing cotton prices and non-availability of cotton caused by uncontrolled exports.

Mr Elangovan further asserted that the Government was working out a plan to ensure that weavers get cotton yarn at a reasonable price.

Textile sector had been affected adversely despite increased cotton exports. However, experts are of the opinion that other major hurdles like appreciation of rupee against dollar and recurrent power cuts also played a significant role in impacting the industry.

As of now, the Government has declared an insurance policy for three lakh weavers. Additionally, Mr Elangovan also announced setting up of a textile park in Madurai at a cost of Rs70 crore. Funds for the purpose have already been allocated by the Center.

Moreover, site has also been selected for the establishment of another park in Madurai district with an investmentof Rs30-40 crore.

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