Interviews
Sops give marginal relief to spinners, Mr Thulasidharan
16 Jul '08
4 min read
The recent measures of removing import duty on cotton had very negligible impact on the domestic cotton price (only to the tune of 2%). Therefore, we have a long way to go to ease out cotton and its prices says Mr Thulasidharan.
He has appealed to the Government to consider the following pending demands of the industry and come out with suitable announcements thus relieving the Indian textile industry, the second largest employment provider next only to agriculture, from the present turmoil as it is the livelihood of around 90 million people, particularly the people below the poverty line and rural women folk.
- Export of cotton should be suspended immediately until December 31, 2008 by which time the new crop would arrive and the situation could be reviewed.
- All future cotton exports should be channelized only through CCI and other State Federations
- Levy of 5% duty on cotton exports should be imposed.
- At least 40% stock to use ratio, should be ensured since all the competing countries maintain the same around 42% and the balance alone should be earmarked for export in a staggered manner by implementing monthly quota for exports.
- The margin money for working capital should be reduced to 10% as against 25% and the interest on the working capital loans should be charged at 7% at par with agricultural loans.
He has appealed to the Government to consider the following pending demands of the industry and come out with suitable announcements thus relieving the Indian textile industry, the second largest employment provider next only to agriculture, from the present turmoil as it is the livelihood of around 90 million people, particularly the people below the poverty line and rural women folk.
- Export of cotton should be suspended immediately until December 31, 2008 by which time the new crop would arrive and the situation could be reviewed.
- All future cotton exports should be channelized only through CCI and other State Federations
- Levy of 5% duty on cotton exports should be imposed.
- At least 40% stock to use ratio, should be ensured since all the competing countries maintain the same around 42% and the balance alone should be earmarked for export in a staggered manner by implementing monthly quota for exports.
- The margin money for working capital should be reduced to 10% as against 25% and the interest on the working capital loans should be charged at 7% at par with agricultural loans.
Southern India Mills' Association (Sima)
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