Tiruppur: Yarn prices have increased abnormally over the last one year causing disastrous impact on the knitwear units in the district. Its price rose by Rs 30 per kg with the start of this year.
In view of the abnormal price rise in cotton and cotton yarn, the Tiruppur Exporters’ Association (TEA) has said that the Indian government should ban export of cotton. This is in addition to the call already given by the industry to remove 11 per cent import duty on cotton. Last month, the price of Indian cotton was higher than the international market.
The garment exporting units in Tiruppur will down shutters for two days - January 17 and 18 - to protest against the high cotton and yarn prices.
Tirupur: Textile industries here have welcomed the Union government’s decision to defer the hike in GST on textiles from 5% to 12%, which was to come into effect from January 1.
The Tirupur Exporters Association (TEA) has urged Union finance minister Nirmala Sitharaman to extend the interest subvention scheme for post and pre-shipment export credit.
COIMBATORE: Seeking immediate intervention of Union Textile Minister Piyush Goyal to protect the knitwear garment sector, Tirupur Exporters' Association (TEA) Monday accused middle-men and traders of creating a havoc by jacking up the price of cotton during the cotton arrival season.