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Tamil Nadu CM Urges Govt to Control Cotton Rates

Tamil Nadu CM M K Stalin requested the Central Government to stop the crisis that seizes power looms, apparel and home textile departments in Tamil Nadu outstanding the 11 per cent import duty on cotton and asked the government to control the increasing prices of cotton and yarn and help the industry. These departments can become hopeless, resulting in shutdown, unemployment and industrial disturbance in the state, he said. “I request you to interfere in fixing this issue that has dangerous circumstances,” CM Stalin said in a letter to the Union Textile Minister Piyush Goyal.

He also desired to update the commercial terms and conditions set by the Cotton Corporation of India (CCI) for the e-auction of cotton by decreasing the minimum lot size to 500 bales which is workable for the MSMEs. Yarn manufacturers can be given priority in acquiring cotton over traders and extend 5 per cent interest aid to the spinning mills towards procurement of cotton in the peak season.

Till now, no steps have been taken by the government to control the cotton and yarn prices; the power loom, garment, and hosiery manufacturers of Palladam and Tiruppur are doing a hunger strike on 21st January, demanding the government to take immediate actions to control the yarn and cotton prices, he added.

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