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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