ZERO HOUR SPEECH OF P.WILSON MP IN PARLIAMENT ON YARN AND COTTON ABNORMAL PRICE HIKE

ZERO HOUR SPEECH OF P.WILSON MP IN PARLIAMENT ON YARN AND COTTON ABNORMAL PRICE HIKE

Thank you Dy Chairman Sir for giving opportunity to speak,
I rise to bring to the kind attention of this August House the crisis faced by the textile industry due to the price rise of Cotton and Yarn and hoarding of the same leading to closure of various textiles industries in Tamil Nadu especially in Erode, Coimbatore and Tiruppur. This price rise is also affecting the Textile Industries situated across the country.
Sir as we know Textile industry is the 2nd largest provider of employment after agriculture in our country and India produces roughly around 350 lakh bales of cotton and consume about 280 lakh bales. The county produces about 4,762 million kilograms of Yarn. The textile and apparel industry contributes about 2.3 % of India’s GDP. The industry also accounts for 13% of industrial production. More than 50% of the cotton and yarn is produced in Tamil Nadu and Tamil Nadu alone contributes to 49% of the cotton knitwear exports from India. Apart from this Tamil Nadu also caters to the domestic consumption to a large extent.
However, today, the manufacturers are faced with a challenge of abnormal price hike of cotton and yarn due to various reasons. No Steps have been taken to prevent large scale hoarding of Yarn and Cotton by certain persons. The price rise and hoarding has badly affected the sector leading to the entrepreneurs quitting the industry and has put the livelihood of more than 50 lakh employees at risk. More than 3 lakh migrant workers who have come from northern states and are employed in the factories of Tamil Nadu and they too will lose employment.
Our Hon’ble Chief Minister has already addressed a letter to the Hon’ble Minister for Textiles suggesting the following measures: 1. To remove the overall import duty of 11 per cent on cotton 2. Give priority to manufacturers over traders in procurement of cotton 3. Cut the minimum lot size in e-auctions conducted by CCI to 500 bales.
Sir, Immediate steps should be taken to restrict and regulate export of Yarn and Cotton till normalcy is restored and export of finished materials will not only make the industries to survive and will save the textile industries besides earn more foreign exchange for our country.
The above suggestion has to be implemented and apart from the same the Union Government to take steps to check hoarding and also restrict and regulate exports of Yarn and Cotton till the price settles.
Therefore, through this August House, I request the Hon’ble Union Minister for Textiles to intervene and take steps immediately to save the textile industry from collapse.
Thank you again Deputy Chairman sir

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