The rise in cotton yarn prices and intermittent supply of cotton yarn in the past two months have affected small exporting units in Tiruppur, according to the Tiruppur Exporters Association (TEA), which recently, in a letter to finance minister Nirmala Sitharaman, said lack of trade pacts with major importing countries and regions is also a dampener.
Tamil Nadu recently announced its new Industrial Policy 2021 to attract investments worth about ₹10 trillion and generate employment for two million by 2025.
The Tiruppur Exporters’ Association (TEA) has opposed certain amendments announced in the recent Union Budget, relating to import of items used by the garment industry.
The Union Budget announcement on Monday reducing Customs Duty on steel and ferrous and non-ferrous scrap is expected to bring down raw material prices for the engineering units in Coimbatore.
The textile industry on Monday welcomed the Union Budget presented by Finance Minister Nirmala Seetharaman, particularly the announcement on textile and apparel parks.
The Tiruppur Exporters’ Association (TEA) will appeal to the government to ban yarn exports to control prices in the domestic market.