Textile Mills Urge Cotton Corporation of India to Establish Warehouses in Tamil Nadu
By ashish wagh 2024-09-27 11:56:20
Cotton Corporation of India is being urged by textile mills to open warehouses in Tamil Nadu
The South India Spinners Association (SISPA) has requested the Cotton Corporation of India (CCI) to set up cotton warehouses in Tamil Nadu, as textile mills in the state consume 45% of the cotton produced nationwide.
During its annual meeting in Coimbatore on September 25, 2024, SISPA emphasized the need for local warehouses to ensure easier access to cotton, the primary raw material for the mills. The Association also urged that mills lifting cotton contracted with CCI after the grace period be charged a lower interest rate of 6.5%, instead of the current 15%. Additionally, it called for the Central government to directly transfer the Minimum Support Price (MSP) to farmers who sell their cotton to CCI and to monitor mill purchases to prevent excessive stocking.
SISPA further requested the Central government to exempt cotton imports from the 11% duty between April and October, ensuring raw material availability without harming farmers' livelihoods.
