Meanwhile, Maran while interacting with media said that, they will be
re-examining the situations once the cotton flow starts perking up in
the impending season, since October..
While mentioning that a number of spinning mills in Pakistan were
compelled to shut down owing to lack of cotton he said that, as the
mills were shut, other segments of the textile sector like weaving and
knitwear were forced to spurt their production..
By this part of the year, India has already shipped 7.8 million cotton
bales out of the country and the farmers have fetched considerable
prices, which were on the higher side of the MSP fixed by the
government, he divulged..
Nonetheless, he said that, the spinning sector in India does not have
enough capacity so that it can utilize all cotton that is available.
Therefore, the sector in order to absorb this unutilized cotton needs to
bed in more spindles..
The Minister even remained present at a meet with the representatives of
the textile industry, which included Confederation of Indian Textile
Industry, Southern India Mills Association, Apparel Export Promotion
Council, Tamil Nadu Spinning Mills Association and Tirupur Exporters’
Association. The meet was summoned to deliberate on trimming down the
cotton yarn prices
Date:6/28/2010
Source:www.wtin.com