Textiles and clothing manufacturers are hit by high raw material prices for more than a month now and have sought urgent measures from the Union government to bring down the prices.
President of South India Hosiery Manufacturers Association in Tiruppur, A.C. Easwaran, said in a press release the high yarn prices because of spike in cotton prices have hit hosiery production.
The industry bodies are asking for ban on cotton exports, permit export of yarn and cotton only after meeting domestic demand, and ensure that the MSMEs get the raw material prices at affordable prices. Since, there is no remedial measure from the government, the hosiery manufacturers will join the exporters in Tiruppur and down shutters on January 17 and 18.
The South India Spinners’ Association has said the spinning mills stare at uncertainty because of the high price of cotton, which is the raw material for the mills.
The Association president, J. Selvan, said in a press release that the price of cotton was ₹ 37,000 a candy in September 2020 as against ₹ 80,000 a candy now. He urged the Union government to remove the import duty on cotton, ban trading of cotton on commodity exchanges, and ensure that multi-national companies do not hoard cotton.
