TN Textile Ministry Calls Meeting Of Spinning Sector Stakeholders

A meeting of all Tamil Nadu Spinning Mill Associations has been called by the Tamil Nadu Ministry of Handloom and Textiles to resolve the issues of the spinning mill industry.

It may be recalled that the open-end and MSME spinning mills in the stake had stopped production from July 15 in protest against various issues impacting the industry among which one is a hike in electricity tariffs.

Yesterday the Chief Minister of Tamil Nadu MK Stalin had written a letter to PM Modi urging him to scrap import duty of 11 percent on raw cotton imports, ban waste cotton exports and restructure the Emergency Credit Line Guarantee Scheme (ECLGS).

Stalin added that due to rising operational costs and poor demand in domestic as well as international markets, the spinning sector in the stake has plunged into a crisis

There are 1,500 spinning mills employing around 1.5 million workers and is one of the main engines of the economy in Tamil Nadu.