The Rise In Cotton Prices Has Led To A Crisis In India'S Clothing Industry.
Tirup, Bohle de M, SomanurAvinashi and Erode's textile cluster production will be affected by the rise in cotton prices. They will suspend production for two days and ask the government to stop speculation in cotton trade.
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The association and Trade Organization Association held an emergency meeting on Monday to decide that Tirup and the four textile clusters in the vicinity stopped production in September 24th and 25th to protest that cotton prices continued to rise.
The rise in cotton prices has led to a crisis in the clothing industry. The decision was made by the Federation of Rupp exporters and Manufacturers Association (TEAMA), after the relevant government failed to stop the rise in cotton prices.
The emergency meeting agreed that
cotton
The abnormal price increase has weakened the competitiveness of India clothing in the highly price driven export market.
M.P.Muthurathinam, President of TEAMA, said Tirup, Bohle de M, SomanurAvinashi and Erode's textile cluster will be shut down for 48 hours.
Textile enterprises and workshops will be closed.
The Federation hopes that the coalition government will end speculation in cotton trade. They ask the government to impose a 25% export tax and do not need to restrict exports so that cotton prices can be reduced.
The price of the most fragrant card -6 cotton has risen by about 9000 rupees /candy in the past 20 days.
These associations and trade unions also require the India Cotton Corp to purchase and distribute cotton to meet domestic garment production needs.
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