Spinning mills from Tamil Nadu, Andhra Pradesh, and Telangana, contributing 55% of the country s spinning capacity, have urged the central and state governments for relief amidst global recession and sluggish domestic demand. The South Indian Mills Association (SIMA) highlighted challenges, including an 11% import duty on cotton, high costs of man-made fibers, and a significant rise in power costs.
Spinning mills from Tamil Nadu, Andhra Pradesh, and Telangana, contributing 55% of the country s spinning capacity, have urged the central and state governments for relief amidst global recession and sluggish domestic demand. The South Indian Mills Association (SIMA) highlighted challenges, including an 11% import duty on cotton, high costs of man-made fibers, and a significant rise in power costs.
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The Indian textile industry is very eager to see Free Trade Agreement (FTA) in place with the United Kingdom. The industry expects that it will be able to better compete with.
Depleting stocks coupled with strong demand from mills keeps cotton prices bullish indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.