| Date: |
14-10-2011 |
| Subject: |
Sima Demands Fair Cotton Trade Policy |
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New Delhi: Southern India Mills’ Association (Sima), the trade organisation of yarn spinning and fabric weaving mills in South India, has appealed to the Centre for a fair cotton trade policy, in order to revive the textile industry from the crisis.
The predominantly cotton-based Indian textile industry has incurred a loss of over R15,000 crore during the current financial year due to high volatility in cotton and yarn prices. “It is essential for the government to frame the cotton export policy in such a way that our competing countries do not derive competitive advantage from Indian cotton”, said S Dinakaran, chairman, Sima. He said, that they have already appealed for a financial restructuring package, to the RBI, finance ministry, commerce & industry ministry and textile ministry.
Source : financialexpress.com
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