The difficult period for the Indian textile industry continues

by:JIYALI     2021-08-04
According to the trend of the domestic textile industry in India, the South India Factory Association (SIMA) seeks relief policies from the central government, not only for export units, but also to cater to the requirements of the domestic market.  Many factories began to become unsustainable unless the loans of these units were allowed to be deferred for one year, because as cotton prices continued to hover at high levels and yarn prices did not increase, the domestic textile industry continued to struggle.  South India Factory Association seeks 4% interest rate subsidy for domestic factories, which is at the same level as export units. The state government should take measures to solve the power supply of these units, and the central government should help these units solve other problems.   They suggested developing a mechanism to ensure that domestic industries have an advantage in household cotton cultivation. At the same time, import taxes on cotton should be cut, and incentives for cotton exports should be eliminated.   Although the new cotton season cotton has begun to reach the market, the price of cotton still remains high, although the price of some types of cotton has dropped slightly. The price of cotton yarn has not increased either. The problem is frequent power outages. In the past three months, the capacity utilization of power units has dropped by 10%-15%.   Under the current situation, many small units have stopped production. Many small-scale spinning units operating in rural areas and many small units in cities have stopped production in the past 2-3 months because they cannot solve the problem of production costs.  The South India Factory Association feels that this quarter can go out of the worst period in decades because there are not too many factories in operation.
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