Latest News | Small Spinners Welcome Removal

Coimbatore, Apr 14 (PTI) South India Small Spinners Association (SISPA) on Thursday welcomed the removal of import duty on cotton by the Centre.

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This would help the mills affected by frequent rise in the cotton prices to buy cotton at cheaper prices and also help more arrivals, SISPA president J Selvan said in a statement.

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He thanked Prime Minister Narendra Modi, Finance Minister Nirmala Sitharaman and Textile Minister Piyush Goyal for the removal of import duty till September 30.

He thanked Tamil Nadu Chief Minister M K Stalin also for writing to the Centre on the plight of the textile industry.

Kongunadu Makkal Desiya Katchi general secretary E R Eswaran said the removal of import duty would help reduce raw material price of cotton, yarn and fabric to some extent. This would also help exporters compete with countries like China, Vietnam and Bangladesh, he said in a separate statement.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)