CHENNAI: On Wednesday, a delegation of Members of Parliament from Tamil Nadu's western belt will meet with Union Finance Minister Nirmala Sitharaman and Textiles Minister Piyush Goyal, led by DMK MP Kanimozhi. On the guidance of Tamil Nadu Chief Minister M K Stalin, the team would press the two Union Ministers to find a solution to the weavers' difficulties.
Stalin's letter to Prime Minister Narendra Modi concerning high cotton and yarn prices harming the textiles sector and employees prompted the suggested meeting of Tamil Nadu MPs with the two Union Ministers. Meanwhile, garment factories in Tirupur, Tamil Nadu, closed their doors on Monday and Tuesday in protest of rising cotton and yarn prices.
Previously, Tamil Nadu Chief Minister M.K. Stalin had appealed to Prime Minister Narendra Modi to intervene in the issue of rising yarn prices in order to aid the textile industry. In a letter sent today, he stated that the textile industry is experiencing major difficulties due to the continued rise in raw material prices.
The Chief Minister has urged that spinning mills make stock declarations of cotton and yarn essential so that ginners and cotton traders can have accurate information on their availability. He said it takes more than three months for consignments to reach Indian ports after the contract is signed, noting that the cotton import tax waiver is only valid until September 30th.
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