Summary:
Coimbatore, Apr 14 (PTI) The decision of the Central government to remove 11 per cent import duty on cotton has been welcomed by small spinners and the industry at large.
South India Small Spinners Association (SISPA) on Thursday said the removal of import duty would help the mills affected by frequent rise in the cotton prices to buy cotton at cheaper prices and also help more arrivals, SISPA president J Selvan said in a statement.
He thanked Prime Minister Narendra Modi, Finance Minister Nirmala Sitharaman and Textile Minister Piyush Goyal for the removal of import duty till September 30.
He thanked Tamil Nadu Chief Minister M K Stalin also for writing to the Centre on the plight of the textile industry.
Kongunadu Makkal Desiya Katchi general secretary E R Eswaran said the removal of import duty would help reduce raw material price of cotton, yarn and fabric to some extent.
This would also help exporters compete with countries like China, Vietnam and Bangladesh, he said in a separate statement.