TN MPs to meet with Sitharaman on cotton pricing issue, textile industry awaits outcome
CHENNAI: A delegation of parliamentarians from Tamil Nadu will meet Finance Minister Nirmala Sitharaman in New Delhi on Wednesday over rising cotton and yarn prices.
The delegation, made up mainly of MPs from western Tamil Nadu, is led by Kanimozhi.
Tamil Nadu’s textile industry, reeling from rising cotton and yarn prices, is eagerly awaiting the outcome of the meeting.
Tamil Nadu Chief Minister MK Stalin has written a letter to Prime Minister Narendra Modi stating that rising cotton and yarn prices have badly affected the state’s textile industry. The Tiruppur Exporters Association (TEA) has already met with the Union Finance Minister on this matter.
Raja Shanmugham, Chairman of the Tirupur Exporters Association (TEA), speaking to IANS, said, “Exporters and the textile industry in Tamil Nadu as a whole are eagerly awaiting the outcome of the meeting of MPs from West Tamil Nadu with the Union Finance Minister We await reassurance from rising cotton prices which is affecting the production and sale of state textile products and has hurt the market of export.”
He said Tamil Nadu’s textile exports have an annual turnover of around Rs 36,000 crore and the industry employs thousands of people. The head of the exporters association said the rise in cotton prices has totally affected the production and if immediate action is not taken, it will shut down the industry.
It can be noted that the rise in cotton prices has already affected many units and several MSMEs have already closed up shop. The garment industry in the state has suffered huge losses and many major industries are also on the verge of closure.
Textile and garment units in Tirupur and Karur had been protesting and closing shops against rising cotton and yarn prices from Monday. It is to be noted that the price of cotton hovered around Rs 1 lakh for one candy (356 kg) which was at Rs 57,000 in September 2021.
Robo D. Ravichandran, secretary of the Tirupur Domestic Garment Manufacturers Association, in an interview with IANS said, “Cotton and yarn prices have gotten out of control and there is no other choice but to close the units. Clothing production becomes unsustainable and the livelihood of thousands of people is uncertain.”