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The Cotton Textiles Export Promotion Council (TEXPROCIL) urged the Government should consider giving additional benefits to the downstream Garment & Home Textile sectors so that they can tide over the temporary crisis rather than seek imposition of a tax on exports of Cotton Yarn.
In a bid to help the clothing and other downstream segments of the textile industry, which have been in a bind over soaring cotton prices, the member mills of Northern India Textile Mills Association (NITMA) have agreed to reduce cotton yarn prices by Rs.5 per kg with effect from 1st May 2010, said NITMA President, Ashish Bagrodia on Tuesday.
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A textile industry body has cautioned the government that lifting ban on cotton exports from the country at this moment will have "disastrous" consequences for the Indian textile sector.
Confederation of Indian Textile industry (CITI) has requested the spinning industry to avoid any increase in cotton yarn prices for the next three months, in view of the problems being faced by the downstream segments of the industry.
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