TN spinners restart production of cotton yarn after govt assurance
SISPA secretary, S Jagadesh Chandran, and ISMA president, G Subramaniam, jointly stated that they had discussions with the Tamil Nadu government's minister of finance and electricity, Thangam Thenarasu, minister of textiles and handlooms, R Gandhi, and minister of micro, small and medium enterprises, T M Anbarasan, on Friday. The Spinning Mills Associations addressed the current crisis facing the industry, and submitted a joint memorandum to the ministers, who assured they would raise the issue with the chief minister of Tamil Nadu. The government agreed to consider providing adequate relief for the industry.
The state government also appealed to the central government to consider issues within its purview. They urged the central government to eliminate the 11 per cent import duty on cotton and to provide financial support under the Emergency Credit Line Guarantee Scheme (ECLGS), including the extension of the moratorium by an additional year.
“We hope that the state and central government will consider our plea for the survival of the spinning industry in Tamil Nadu. Therefore, we requested our members to start the yarn production and sale in their spinning mills,” the associations said in a press note.
Fibre2Fashion News Desk (KUL)