President of Tirupur Exporters Association (TEA) , A. Sakthivel says that the Hon'ble Minister has been taking various measures, like removal of DEPB, Duty Drawback Rate benefits available for cotton yarn exports and suspension of cotton exports for reduction of cotton prices. The textile industry has largely benefited in the past one year and focusing its full attention for the development in domestic as well as in the international market.
We have now learned from the reliable sources that the cotton exporters have been vigorously trying to lift the cotton exports ban and this news has created a panic among the whole textile industry, from spinning sector to garment sector. The creation of such alarming situation is totally uncalled-for.
Our apprehension is that once if the Government decides to lift the cotton export ban and permit the cotton export, then the decision will be a disastrous one to the whole textile industry. It is not out of place to mention that all spinning mills will come to a stand-still and eventually, all downstream sectors, especially garment sector will get affected abnormally. Moreover, the garment export sector will not be in a position to sustain in the global market.
Considering the consequences, we request the Hon'ble Minister to kindly intervene and use your good offices to stop the concerned move to lift the Cotton export ban and make ensure that the sufficient quantity of cotton stock is available in the domestic market.
Tirupur Exporters Association (TEA)