The Tirupur Exporters and Manufacturers Association (TEAMA) in Tamil Nadu has urged the Indian Government to ban the export of cotton and yarn as uncontrolled exports have caused a severe rise in the prices of both these items in the domestic market and have also created a shortage of these raw materials for the domestic textile industry.
‘Yarn price hike is a major problem now. Some knitwear manufacturers are under pressure to close their units without bearing further losses,” TEAMA president MP Muthu Rathinam said in a representation to Prime Minister Narendra Modi.
Raw material exports should be permitted after fulfilling requirements for the domestic textile industry in the country, a report in a South Indian English-language daily quoted him as saying. (DS)
Fibre2Fashion News Desk – India