Anbumani, a PMK youth leader, has requested that the central government prohibit the export of cotton yarn and proclaim cotton and cotton yarn to be vital commodities. He said it was concerning that the rise in the price of cotton yarn was harming all industries, including handlooms, powerlooms, and readymade clothes, in a statement released today. Despite the federal government's efforts, including tax cuts, to restrain the rise in cotton yarn costs, the trend has continued, raising uncertainties and surprises.
Because the price of cotton yarn has been growing for more than a year and a half, the central government eliminated the 10% import fee on april 14 to stimulate imports. The increase in yarn price surprised everyone because everyone expected the price of cotton yarn to decline as a result of this. The price of the 40th book has increased to Rs 463.81 per kg, including the monday price increase. This is a 102 percent increase above the september 2020 price of Rs.226.16. All yarn types, including No. 10, No. 16, No. 20, No. 25, No. 30, and No. 34, have increased by nearly the same amount. It will have no positive impact on the textile industry's development.
Tamil Nadu is a major exporter of ready-to-wear apparel, knitwear, and powerloom products. The country receives a large quantity of foreign exchange from these areas. However, the spike in cotton yarn prices will put all of these enterprises out of business. The global climate, which has been impacted by the ukraine crisis, rising freight charges, and rising worker pay, has had a significant impact on the readymade garment business in Tirupur and coimbatore districts.
Because the price of cotton yarn has been growing for more than a year and a half, the central government eliminated the 10% import fee on april 14 to stimulate imports. The increase in yarn price surprised everyone because everyone expected the price of cotton yarn to decline as a result of this. The price of the 40th book has increased to Rs 463.81 per kg, including the monday price increase. This is a 102 percent increase above the september 2020 price of Rs.226.16. All yarn types, including No. 10, No. 16, No. 20, No. 25, No. 30, and No. 34, have increased by nearly the same amount. It will have no positive impact on the textile industry's development.
Tamil Nadu is a major exporter of ready-to-wear apparel, knitwear, and powerloom products. The country receives a large quantity of foreign exchange from these areas. However, the spike in cotton yarn prices will put all of these enterprises out of business. The global climate, which has been impacted by the ukraine crisis, rising freight charges, and rising worker pay, has had a significant impact on the readymade garment business in Tirupur and coimbatore districts.
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