New
Delhi
The supply chain imbalance can be prevented
by a probe into the sudden spike in cotton yarn prices, according to The
Apparel Export Promotion Council (AEPC). As per A. Sakthivel, Chairman, AEPC,
the commission is happy that the Textile Commissioner’s office has been advised
to find the reason behind the spike in the price of cotton due to which the
entire industry is suffering. He also
said that the commission will support the third-party study with respect to the
spike in cotton yarn prices.
As per Smriti
Irani, Textiles Minister, the ministry will work with the textile commission to
find solutions for the overall interest of the industry. She also said that
there is a need to go for a third-party study of the sudden rise in cotton yarn
prices which further affects the entire value chain of Indian textiles. She
also said that the time is such that the government cannot let plenty of people
suffer for the benefit of only a few. She is hopeful that with the help of
statistical study, some forensic details can be traced by the textile commissioner’s office.
Sakthivel is of
the opinion that if necessary steps are taken, the steep increase and
unpredictability in the availability of cotton and yarn can be curbed. This
will also prevent the hampering of the industry’s order book.
Source – Daiji World
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