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Rising cotton price: Issue of concern in TN

24
Apr '10
The Handlooms and Textiles Minister Mr. Ramachandran recently said in the assembly that the Tamil Nadu government is concerned about the high cotton and yarn prices. The towering prices of cotton and yarn are affecting the living of lakhs of weavers working in handlooms and power-looms.

He said while replying to members of different parties that the Tamil Nadu Chief Minister Mr. M Karunanidhi has raised the matter frequently with the Central Government, but the government took very limited steps in this direction. A meeting in this regard had been held by the Union Finance Minister Mr. Pranab Mukherjee.

A committee had been formed by the Central Government to examine the issue, wherein few effective steps had been taken to address the issue. These steps reduced the cotton prices to a minor extent, but not the crisis, which continues so far, said the Minister.

The state requires around 9.5 million cotton bales per year, but it produces just about 500,000 bales, which forces it to purchase large amount of cotton from other states. These states price their cotton at high rates, but Tamil Nadu needs it at low prices to protect its handlooms, power-looms and hosiery units, added the Minister.

Fibre2fashion News Desk - India


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