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As cotton prices soar, spinning mills feel the heat - The Hindu BusinessLine
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Despite a rise in area, cotton yield drops below 500 kg per hectare in India
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Migrant workers return to textile exporting hubs as Covid cases decline
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COIMBATORE: The Southern India Mills Association (Sima) and Apparel Export Promotion Council (AEPC) have thanked the Centre for extending the rebate of state and central taxes and levies (RoSCTL) on export of apparel and garments for another three years.
The struggling textile industry, which had seen exports stagnate for the past four years, has now begun seeing good marketing opportunities for post-Covid and this move would make pricing of Indian apparels competitive in the global market, the associations said.
The Union cabinet, chaired by Prime Minister Narendra Modi, recently approved RoSCTL with the same rates on exports of apparel and garments till March 31, 2024. The move critically reduces price of Indian products in the global market, because manufacturers don’t have to add the cost of state and central taxes on it.
Cotton ending stocks may be lower than estimates as offtake rises
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