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TEA thanks government measures to control increasing yarn prices

08
Apr '10
The Central Government has come out with the following measures to moderate the yarn prices in the domestic market.

1. Suspension of 7.67% DEPB benefit available for cotton yarn exports.

2. Decision to impose a prohibitive duty on the export of raw cotton.

3. Decision to impose a prohibitive duty on the export of cotton yarn.

4. Decision to introduce a mechanism for registration of cotton yarn exporters.

The measures were taken at a meeting chaired by the Hon'ble Finance Minister, Shri.Pranab Mukherjee, Hon'ble Agriculture Minister, Shri.Sharad Pawar, Hon'ble Commerce Minister, Shri. Anand Sharma and Hon'ble Textile Minister, Thiru.Dayanidhi Maran on 6th April 2010 in New Delhi.

Shri.A.Sakthivel, President sent thanks letters to Shri.Pranab Mukherjee, Hon'ble Minister of Finance, Shri. Anand Sharma, Hon'ble Minister for Commerce and Industry, Shri. Jyotiraditya Scindia, Hon'ble Minister of State for Commerce and Industry, Shri.Rahul Khullar,I.A.S., Commerce Secretary and Shri.R.S.Gujral, I.A.S., Director General of Foreign Trade for the announcement of above measures.

Shri.A.Sakthivel specifically thanked Thiru. Dayanidhi Maran, Hon'ble Union Minister of Textiles and Smt. Rita Menon,I.A.S., Secretary for his support to the exporters, particularly to SME exporters.

Shri.Sakthivel expects the yarn prices would come down and he has also appealed to the textile mills associations to advise their members to reduce the cotton yarn prices immediately so as to save the knitwear garment sector and protect the employment.

Tirupur Exporters Association (TEA)


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