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Traders, spinners discuss challenges faced by cotton industry

Various stakeholders in the cotton industry, including traders and spinners, today discussed the challenges being faced by them.

Tags: cotton industry, traders,

August 13, 2014  |  comments ( 0 )  | 
Traders, spinners discuss challenges faced by cotton industry

COIMBATORE/TAMIL NADU: Various stakeholders in the cotton industry, including traders and spinners, today discussed the challenges being faced by them. A two-day conference on 'Indian Cotton Scenario in the Current Context 2014-15' has been organised by the Indian Cotton Federation here. Dhiren Seth, President of Mumbai-based Cotton Association of India, said he wanted the industry to push and lobby for implementation of Goods and Service Tax, which "would revolutionise the entire industry". "Moreover, the stakeholders should also take efforts to increase the consumption of the raw material, the production of which was likely to increase in the coming years," he said. T Rajkumar, Chairman, Southern India Mills Association, appealed to the government to relax Cabatoge rule so that flag vessels could be used for transportation of cotton from Maharasthra and Gujarat to mills in Tamil Nadu to reduce the freight charges. As Tamil Nadu produces only five to six lakh bales, as against its requirement of 120 lakh bales annually, the relaxation of the rule would sustain the competitiveness and survival of the industry, Rajkumar said. ICF's President J Thulasidharan said the conference's aim was to create a national platform to discuss and sort out various issues related to cotton ginning and trade.


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