Raja M Shanmugham, President said due to continuous and sincere efforts of the Association, the Ministry of Textiles is now examining and working to resolve the crisis emerged due to increasing of yarn prices frequently and disruptions in regular supply of yarn and he was confident that a positive solution would emerge for the sustainability of our members.
Raja M Shanmugham said that international cotton prices has now started coming down, of course not to the level of our domestic cotton prices and in line with this, Indian cotton prices have also been gradually reduced and he expect that the normal price range would be witnessed in near future.
He further mentioned that during TEA meeting with the Textile Mills Associations, he strongly stressed the point that the need of hour is to reach a Win-Win situation and to come out of the woods, he had requested them to consider our plea for reduction of yarn prices empathetically, as MSMEs are in large number and also ensuring supply of yarn in time as per the commitment given to our members. While pointing out the better business relationship between Textile Mills and downstream sector, he said this could help for the mutual growth of both sectors in long run and added that the Mills Associations have assured to take positive steps for the betterment of all sectors in textile industry.
He was confident that the new financial year will be free of all odds for our exports, give full of business confidence, prosperous to all exporting units and the stakeholder units connected with exporting units.
Raja M Shanmugham apprehend on the second wave of COVID-19 Pandemic spread and appealed to all exporting units and the stakeholders units to be cautious and to ensure for vaccination of the members, their employees and other connected with industry aged above 45 years.
