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Chennai, Could 18 (IANS) A delegation of Tamil Nadu (NS:) parliamentarians will meet Finance Minister Nirmala Sitharaman in New Delhi on Wednesday over the rising cotton and yarn costs.
The delegation, principally MPs from Western Tamil Nadu, is led by Kanimozhi.
The textile trade of Tamil Nadu, which is reeling below the rise in cotton and yarn costs, is ready anxiously on the final result of the assembly.
Tamil Nadu Chief Minister M.Ok. Stalin has written a letter to Prime Minister Narendra Modi that the rising costs of Cotton and yarn have severely affected the textile trade of the state. The Tiruppur Exporters Affiliation (TEA) has already met the Union Finance Minister on the difficulty.
Raja Shanmugham, President of Tirupur Exporters Affiliation (TEA) whereas talking to IANS mentioned, “The exporters and textile trade of Tamil Nadu as a complete are anxiously ready for the end result of the assembly of MPs from Western Tamil Nadu with the Union Finance Minister. We predict a solace from the rising cotton costs that affects the manufacturing and sale of textile merchandise from the state and has adversely affected the export market.”
He mentioned that the Tamil Nadu textile exports have an annual turnover of round Rs 36,000 crore and the trade is using lakhs of individuals. The exporters’ affiliation chief mentioned that the rising costs of cotton has completely affected the manufacturing and if instant motion will not be taken it should result in the trade getting closed down.
It could be famous that the rising cotton costs has already affected many items and several other MSMEs have already shut store. The garment trade within the state has suffered large losses and lots of main industries are additionally on the verge of closure.
The textile and garment items in Tirupur and Karur had protested and shut outlets in opposition to the rising costs of cotton and yarn from Monday onwards. It’s to be famous that the worth of cotton has been hovering round Rs 1 lakh for a sweet (356 kg) which was Rs 57,000 in September 2021.
Robo D. Ravichandran, Secretary, Tirupur Home Garment Producers Affiliation whereas talking to IANS mentioned, “Cotton and Yarn costs have spiralled uncontrolled and there’s no different possibility left moderately than shutting the items down. Garment manufacturing is changing into unviable and the livelihood of lakhs of individuals is unsure.”
–IANS
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