Feedback of the meeting with the Hon'ble Finance Minister Smt. Nirmala Seetharaman held by 4.00 PM on 27.01.2022.
Dear All,
As informed already, the meeting has happened through Video Conference as organized by the Hon'ble Ministry of Finance, New Delhi. The following are the participants.
1. Hon'ble Minister for Finance, Government of India Smt. Nirmala Seetharaman.
2. Hon'ble Minister for Textiles, Government of Tamilnadu Shri. R. Gandhi.
3. Hon'ble Member of Parliament Shri. Trichy Siva
4. The Principal Secretary to Government of Tamilnadu for Textiles Department Shri. Dharmendra Pratap Yadav, IAS.,
5. The Commissioner of Textiles, Government of Tamilnadu, Shri. Vallalar, IAS.,
From Industry Side, the following were the participants.
1. Dr.K.Venkatachalam – Chief Advisor, TASMA
2. Shri. T.Rajkumar – Chairman, CITI
3. Shri. Ravi Sam - Chairman, SIMA
4. Dr.K. Selvaraj – Secretary General, SIMA
5. Dr.A. Sakthivel – Chairman FIEO
6. Shri. Raja M Shanmugam – President, TEA
7. Mr. Prabhu Damodharan – ITF
Before the commencement of the meeting with the Hon'ble Finance Minister GoI, there was a pre-meeting organized at the Tamilnadu level, with Hon'ble Minister for Textiles, Government of Tamilnadu and points were discussed as how to precisely project the points to the Hon'ble Finance Minister.
Accordingly, this time there was no demand either on the ban on export of cotton or ban on export of cotton yarn.
The Agenda was to cover only on the following areas.
1. To remove import duty on cotton on all varieties either ELS or otherwise.
2. To regulate the participation of Multi Nationals in Commodity Exchanges to deal with cotton.
3. To bring out the cotton not found placed in market
4. To allow the CCI to purchase cotton just above the MSP.
The Hon'ble Finance Minister was not fully aware that CCI has not purchased any cotton this year so far. For the removal of import duty, even on ELS cotton, the Hon'ble Finance Minister was found concerned as how it would impact the Indian Cotton Farmers. The Hon'ble Finance Minister after hearing the views of the industry, precisely advised to send a representation immediately for her consideration. However, the Hon'ble Finance Minister also expressed concerns over removal of import duty on cotton, which may wrongly signal the cotton growing farmers in India.
Hence, after the closure of the meeting with the Hon'ble Finance Minister, again another round of meeting was held with the Hon'ble Textile Minister Tamilnadu, Hon'ble Member of Parliament and others. After discussing the matter, suitable proposal may likely to be sent before tonight, to the Principal Secretary to Government, Tamilnadu Textiles Department, for taking forward with the Hon'ble Ministry of Finance, New Delhi.
Regards
Team Sis
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