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Smriti Zubin: Cotton yarn prices to be studied

Jun 29, 2021
Smriti Zubin: Cotton yarn prices to be studied

Coimbatore

A third-party study has been demanded by Textile Minister Smriti Zubin on the sudden spike in cotton yarn prices. This price hike has affected the prospects across the value chain of Indian textiles. 

The Cotton Textiles Export Promotion Council organised a virtual meeting to present the Texprocil Export Awards. At the meeting, Zubin said that the price hike in the cotton yarn is a big issue and some solutions should be figured out by the partnership between the Ministry of Textiles and the Textile Commissioner.

The Textile Commissioner Office has been asked to find evidence of cartelization which is affecting the overall textile industry.  Also, a third part statistical study should be conducted by the Texprocil, and the Office of the Textile Commissioner said the minister. She also said that she will support wherever is needed to conduct the study.

She also said that the Cotton Corporation of India has come up with 450 centres so that cotton can be procured easily. The MSP operations will benefit around 19 Lakh farmers this year. 

Source – The Hindu

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