ENA Sectors 2022-05-10 10:57:43 <p><strong>New Delhi, May 10 (KNN)</strong> Commerce &amp; Industry and Textiles Minister Piyush Goyal has called for a stakeholders meeting on May 17 to deliberate on the issue of rising prices of cotton and yarn, and find possible solutions collectively.</p> <p>Several cotton-based textile and garments industry producers have urged the government to ban its export of cotton and garment exporters in Tirupur have announced to go on a six day strike from May 16 against hike in prices of cotton yarn.</p> <p><strong><a href="https://news.google.com/publications/CAAqBwgKMJSHqwswkZLDAw/sections/CAQifkNCSVNXRG9pWjJGeVlXMXZibVJmY0hWaWJHbHphR1Z5WDNObFkzUnBiMjVmWldScGRHbHZia0lhWjJGeVlXMXZibVJmY0hWaWJHbHphR1Z5WDNObFkzUnBiMjV5RmdvVUNoSkhRVkpCVFU5T1JGOUdWVXhNWDA1QlRVVW9BQSoQCAAqBwgKMJSHqwswkZLDA1AB?ceid=IN:en&amp;oc=3"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a></strong></p> <p>Speaking exclusively with KNN, Animesh Saxena, MD of Neetee Clothings Pvt Ltd based in Gurugram and Past President of industry body Federation of Indian Micro and Small &amp; Medium Enterprises (FISME) said despite removing import duty on cotton the prices have increased due to hoarding which should be clamped down. Its a serious issue and government must consider imposing a temporary ban on cotton yarn exports.</p> <p>Expressing concern in the international market, Saxena said that India is losing the orders to its competitors who have a stabilised domestic market.</p> <p>Tirupur Exporters Association (TEA) president Raja N Shanmugam informed KNN that they have appealed to the Union government to ban cotton and yarn exports immediately till the time prices stabilize.</p> <p>Shanmugam said, Export of cotton and yarn should be banned immediately to bring in required supply support to down line industries specially MSMEs.</p> <p>To help retain Indias garment export hold on the global market, garment export organisations have been seeking help from the government, including a short-term ban on export of cotton yarn.</p> <p>The Apparel Export Promotion Council (AEPC) has suggested government to encourage exports of value-added products like apparel instead of exporting raw material such as cotton and cotton yarn. <em><strong>(KNN Bureau)</strong></em></p> 29144 https://knnindia.co.in/news/newsdetails/sectors/union-minister-piyush-goyal-to-meet-stakeholders-on-rising-cotton-prices 2022-05-10 10:57:43 knnindia.co.in