The cotton shortage crisis as well as the high price of cotton and cotton yarn have become severe. However, there have been various developments on this issue.
Union Finance Minister Nirmala Sitharaman has said the Government will explore if there is possibility for Cotton Corporation of India (CCI) to sell the cotton that it procures directly to textile mills.
In a meeting held at Coimbatore, organised by the textile associations, the Minister said that she is seriously taking up the issue of cotton and yarn shortage and said that it is not just about shortage, but also about high prices.
The Minister also said that she will take a call along with the ministries concerned after studying whether it is possible to make CCI sell cotton directly to the mills.
The Union Textile Minister Piyush Goyal has called for a meeting of industry stakeholders on this issue on Wednesday. Any decision can be taken only after the meeting.
The value-adding units in Tirupur, Karur, Erode, Somanur and Palladam will go on strike on 16 and 17 May on the same issue. Communist Party of India (Marxist) will observe a fast on 17 May in Tirupur supporting this demand. It has demanded that CCI should procure cotton and sell it directly to the industry.
Source : https://in.apparelresources.com/