Coimbatore (Tamil Nadu) [India], April 3 (ANI): The scarcity and increasing prices of raw cotton have posed a major challenge to the functioning of the textile industry in Tamil Nadu’s Coimbatore.
Some association members said that the high cotton prices jeopardised the situation of the textile industry this year while others suggested that cotton should be imported to tackle the problem of its scarcity here.
Speaking to ANI, T Rajkumar, Chairman, Confederation of Indian Textile Industry said, “Industry performed well but high cotton prices jeopardised scenario this year. We need 320 lakh cotton bales but there’s a dearth of 60 lakh bales. It’s hoarded by large multinational cotton traders and ginning factories.”
“Our major concern is the lack of raw materials in terms of quality and quantity. If cotton is really not available then we should be allowed to import cotton on a war footing,” said Ravi Sam, Chairman, South India Mills Association.
On the other hand, Raja Shanmugam, President of Tiruppur Exporters Association said that the traders of raw cotton are playing “games” against the textile industry.
“For the past 18 months, we are facing a huge crisis due to an unprecedented price rise of cotton. The garment industry is the largest employment providing industry. Traders are playing games against the industry,” added Shanmugam. (ANI)
This report is auto-generated from ANI news service. ThePrint holds no responsibility for its content.