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Ma Lang, Federal Minister of Textiles of India, recently participated in the completion ceremony of Karur Textile Park. He pointed out that the recent soaring prices of cotton and yarns have caused the textile industry to face sluggish growth.
The minister said that it was not because of the slow arrival of cotton, nor because of other reasons. It was the speculation of some greedy businessmen and hoarding activities that caused the cotton and yarn prices to fluctuate.
These two factors undoubtedly fueled the prices of cotton and cotton yarns, which led to the Ministry of Textiles' request to set an upper limit for cotton exports.
He suggested that if the central government and the state governments reach an agreement and work together for the benefit of the general public and the industry, it will be a good thing.
The Ministry of Textiles plans to build 20 more textile parks nationwide to promote the development of the textile industry, expand exports, and create more job opportunities.
The minister said that it was not because of the slow arrival of cotton, nor because of other reasons. It was the speculation of some greedy businessmen and hoarding activities that caused the cotton and yarn prices to fluctuate.
These two factors undoubtedly fueled the prices of cotton and cotton yarns, which led to the Ministry of Textiles' request to set an upper limit for cotton exports.
He suggested that if the central government and the state governments reach an agreement and work together for the benefit of the general public and the industry, it will be a good thing.
The Ministry of Textiles plans to build 20 more textile parks nationwide to promote the development of the textile industry, expand exports, and create more job opportunities.
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