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'No need to restrict yarn exports' – Minister

28
Feb '11
It was recently revealed before the National Assembly that yarn exports will not adversely affect the textile sector of the country; instead it would raise the country's credibility in worldwide markets.

Minister Syed Khursheed Ahmed Shah stated that, the country need not restrict its yarn exports, as this would not only have an adverse effect on the country's image, overseas, but would even make it impossible for the industry to sustain its presence in the global markets, and thus create an advantage for competing nations.

He said that, inspite of the fact that, there is no duty is imposed on import of cotton yarn; the domestic value-added industry always preferred locally manufactured yarn owing to its easy availability. A check was being exercised on yarn exports so as to ensure enough availability of raw material for domestic value-added textile industry.

Around 275 million kg of yarn was exported from the country between July-December 2010, which is 24 percent less than the exports during corresponding period of 2009, the Minister said.

However, he added that, if yarn exports from country crosses the danger mark and poses a threat to the value-added industry, they would immediately introduce corrective measures to ease the situation, like it was done last year.

Fibre2fashion News Desk - India


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