Union Textiles Minister, Dayanidhi Maran recently inaugurated the Karur Textile Park at Thalapatti-Puthambur on the Karur-Madurai Highway.Speaking at the ceremony he highlighted that, the cotton and yarn prices which have been soaring over the last some time have placed the country’s textile sector under duress.
The Minister stated that, it is not the slow arrival of crops, or any other issue concerning cotton, but the general speculation and hoarding activities undertaken by some of the greedy traders that are to be blamed for the volatility in the cotton prices and yarn prices.
These two factors certainly helped in flaring up of cotton and yarn prices, thus inducing the Textiles Ministry to demand a ceiling on cotton exports.
He suggested that, it would be great if the Central and the State governments develop a consensus and work together in the interest of the general public and the industry.
The Textiles Ministry intends to set up another 20 textile parks across the country, in order to provide a definitive push to the textile sector, to increase exports and generate more job opportunities, he said.
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