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Rising prices of cotton and yarn threatening existence of apparel units: AIADMK

Staff Reporter

Party cadre observe fast in front of Railway Station in Tirupur

Photo: M. Balaji.

Justice demanded:Members of AIADMK observing fast in front of Tirupur railway station on Monday. —

Tirupur: Many hundreds of All India Anna Dravida Munnetra Kazhagam (AIADMK) members observed fast in front of the Railway Station here on Monday in protest against the policies of Central and State Governments which had plunged the textile industry into a deep crisis.

Former Minister and MLA Pollachi V. Jayaraman said that the uncontrollably rising prices of cotton and cotton yarn during the last few months had been threatening the very existence of the apparel units in clusters like Tirupur as the entrepreneurs were finding it difficult to sustain operations with shrinking profit margins.

“The Central Government should reconsider their decision to allow free export of cotton if they are serious about controlling the prices of cotton in the domestic market,” he added.

He pointed out that if the cotton exports were allowed during the initial months of the cotton season that begins on October 1, it would only help the textile trade in the competing countries like Pakistan, China and Bangladesh to flourish as good quality cotton stocks normally arrives in the market during that phase.

C. Sivasami, MP, said that the Central Government should carry out a proper study on the domestic consumption needs of cotton to understand the severity of the situation.

They should allow cotton exports only after it was ensured that the domestic needs were met comfortably and that too only from February, he said.

Similarly, fiscal measures should be taken to control the yarn prices which too were increasing steeply in the last few months.

Mr. Sivasami condemned the decision to reduce the duty drawback rates of cotton garments from 8.8 percent to 7.5 percent. The agitators criticised the State Government for its failure to give supply of power round-the-clock to the textile units in Tirupur cluster. “Frequent disruption of power is affecting the production significantly,” they said. MLAs C. Shanmugavelu (Udumalpet), R. Prema (Avinashi), S. M. Velusamy (Palladam), C. Ponnudurai (Perundurai), and MP K. Sugumar (Pollachi) took part in the agitation.

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