|
|
Lifting ban on cotton exports will be disastrous: TEA
|
|
|
|
| Top Stories |
 |
|
|
|
SME Times News Bureau | 21 May, 2010
A textile industry body has cautioned the government that lifting ban on cotton exports from the country at this moment will have "disastrous" consequences for the Indian textile sector.
In a letter to Union Textile Minister Dayanidhi Maran, a copy of which was released to the press on Thursday, the Tirupur Exporters Association (TEA) urged the minister to maintain status quo on the cotton export ban, adding that if the ban is lifted, it will be disastrous for the Indian textile industry.
TEA president A Shaktivel claimed that cotton exporters have been trying hard to get the ban lifted, creating panic among the textile industry, from spinning to garment sectors.
Creation of such alarming situation was totally uncalled for, he said.
It was not out of place to mention that all spinning mills would come to a stand-still. Eventually, all downstream sectors, especially the garment sector, would be badly affected. Moreover, the garment export sector will not be in a position to sustain i tself in the global market, he said.
Considering the consequences, TEA urged Mr Maran to use his good offices to stop the proposed move to lift the ban and ensure that sufficient quantity of cotton stock was available in the domestic market.
The government had decided to halt cotton exports from April 19 to ensure adequate availability of raw cotton for the domestic industry.
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
|
84.35
|
82.60 |
UK Pound
|
106.35
|
102.90 |
Euro
|
92.50
|
89.35 |
| Japanese
Yen |
55.05 |
53.40 |
| As on 12 Oct, 2024 |
|
|
| Daily Poll |
 |
 |
| Will the new MSME credit assessment model simplify financing? |
|
|
|
|
|
| Commented Stories |
|
|
|
|
|
|
| |
|
