The South India Hosiery Manufacturers Association in Tiruppur, representing domestic garment manufacturers, has urged the Ministry of Textiles to take necessary measures to keep cotton prices stable.
The Association’s president, A.C. Eswaran, in a press release, said that the Cotton Corporation of India (CCI), which is opening godowns in Tamil Nadu to sell cotton, should keep the prices stable and should not change the cotton prices based on global trends. This is to ensure that downstream textile units such as the spinners and weavers are not affected by fluctuating cotton prices. The garment manufacturers can benefit from competitive cotton prices only if the entire supply chain gets cotton at low prices.
Further, the CCI has decided to sell cotton only to end consumers directly, and not to traders. The government should monitor the purchase of cotton by traders from ginners. Cotton stocks with traders should be permitted for exports only after meeting the domestic requirements, he said.
