Chairman of the Southern India Mills’ Association (SIMA), P Nataraj Coimbatore, has welcomed the Union Budget 2019-20 that has laid ambitious targets to address various important issues relating to connectivity, power, skill development, etc.
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The Southern India Mills Association (SIMA), an apex body of spinners in India, appealed to the new Central Government to resolve Technology Upgradation Fund (TUF) issues to boost job creation and exports.
The Hank Yarn Obligation Scheme (HYO) was introduced during 1963 directing the mills to pack 50 per cent of domestic weaving yarn delivery in hank form.
In the post-GST implementation period, the exports of garment and made-ups have been struggling due to inadequate export benefits and tariff barriers in the global market.
PNataraj, Chairman, The Southern India Mills’ Association (SIMA), has welcomed the announcement of Rs 6,000 per year for the farmers having below two hectares of land under Prathan Mandri Kisan Samman Nidhi Programme giving effect from December 1, 2018 as the same would benefit millions of cotton farmers.
The technology mission on cotton announced during 1999 got closed in the year 2012 that had made India as the largest cotton producer and net exporter in the world.
The cotton stakeholders across the textile value chain have been demanding to bring back technology mission on cotton in a revised format.