Coimbatore textile industry in problem due to cotton price rise
The scarcity and increasing prices of raw cotton have posed a major challenge to the functioning of the textile industry in Tamil Nadu’s Coimbatore.
Coimbatore
The scarcity and increasing prices of raw cotton have posed a major challenge to the functioning of the textile industry in Tamil Nadu’s Coimbatore.
Some association members said that the high cotton prices jeopardised the situation of the textile industry this year while others suggested that cotton should be imported to tackle the problem of its scarcity here.
T Rajkumar, Chairman, Confederation of Indian Textile Industry said that Industry performed well but high cotton prices jeopardised the scenario this year. We need 320 lakh cotton bales but there’s a dearth of 60 lakh bales. It’s hoarded by large multinational cotton traders and ginning factories.
Ravi Sam, Chairman of, the South India Mills Association, said that their major concern is the lack of raw materials in terms of quality and quantity. If cotton is really not available then we should be allowed to import cotton on a war footing,” said.
On the other hand, Raja Shanmugam, President of Tiruppur Exporters Association said that the traders of raw cotton are playing “games” against the textile industry. For the past 18 months, we are facing a huge crisis due to an unprecedented price rise of cotton. The garment industry is the largest employment-providing industry. Traders are playing games against the industry, he Shanmugam.
Image Sources: Google Images
Source: ET Retail.com
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