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Apparel exporters seek steps to curb export of cotton yarn
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SME Times News Bureau | 27 Mar, 2021
Apparel Export Promotion Council (AEPC) has sought for imposition of
quantitative restrictions and export duty on export of cotton yarn from
India.
In a letter to the Union Minister of Textiles Smriti Zubin
Irani, AEPC Chairman A. Sakthivel said that despite several efforts by
the government to reduce the price of cotton yarn, it has consistently
increased in the last four months and was affecting the entire value
chain.
"We request your kind immediate intervention to increase
the supply of yarn to domestic manufacturers. We suggest that
quantitative restrictions should be imposed on exports of cotton yarn,
specifically on cotton yarn of 26 counts and above," the letter said.
Sakthivel
also noted that apparel exporters were grateful to the minister for
her continuous support in bringing stability in cotton price and
predictability in availability of cotton, which encouraged Cotton
Corporation of India (CCI) to reduce the price of cotton to small mill
owners.
However, he added that, the move did not result in reduction of cotton yarn prices.
"The
rate of increase in yarn prices far exceeds that of cotton prices. The
steep increase in prices and unpredictability in availability of yarn
means that garment exporters cannot honour commitments they made to
their customers," the AEPC Chairman said.
This has also affected
handloom and powerloom weavers badly and looms have stopped production,
he said, adding that "due to this, the domestic industry has also got
affected adversely".
He suggested that export duty should be
levied on exports of cotton yarn. This will result in a sharp decline in
domestic yarn prices and an increase in value addition and employment
in the country and will also help in increasing garment exports,
Sakthivel said.
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