Thiruvananthapuram, Jan 10 (KNN) The recently formed cotton board in Kerala has asked the National Cooperative Development Corporation (NCDC) for a loan worth Rs 35 crore for the purchase of cotton meant for textile mills in the State.

A.P.M. Mohammed Hanish, Principal Secretary, Industries, who heads the Board told The Hindu on Monday that the Board was formed with the aim to ensure transparent purchase of raw material for spinning mills at the most beneficial price.

Speaking on the side-lines of a business strategy workshop for the textile sector in Kerala, organised by the Public Sector Restructuring and Internal Audit Board (RIAB), Hanish pointed out that the cotton board is the first body in state to coordinate the purchase of cotton.

“Cotton and electricity charges constitute the biggest expenses in running a spinning mill and getting the raw material at the right price will help units cut cost of production substantially,” he said.

He also spoke of the need for induction of new technologies, employees’ capacity building, training and acclimatisation to the new requirements. “There is also a need to exploit the potential of the Indian Institute of Handloom Technology,” he added.

The business strategy workshop was organised to assess the issues and constraints faced by textile sector PSUs and cooperatives in running their business profitably.

Currently there are around 3,000 employees in the textiles sector. Officials speaking at the session highlighted the need to rethink strategy to cut cost of production, including electricity charges, and improving productivity.

Heads of textiles PSUs, consultants and technology managers from the sector and representatives of cooperatives were among those who participated in the one-day strategic session.

RIAB Chairman R. Ashok, Member Secretary K. Padmakumar, handloom and textiles director K.S. Anilkumar, and advisor on master plans for PSUs Roy Kurien were among those who participated.  (KNN Bureau)