The Textile Ministry is constantly working to resolve the crisis which is coming out of the frequent rise in yarn prices. Recently, the cotton prices internationally, have started to come down, thus it will also make Indian cotton prices to get gradually reduced said Mr. Shanmugam who is president of Tirupur Exporters Association (TEA).
He also hopes that near future, we can expect a normal range of price.
Also, as there are large numbers of MSMEs, Mr. Shanmugam has requested in a recent meeting with textile mills associations to consider the reduction of yarn price. Mr. Shanmugam said that he hopes for the new financial year to bring business confidence and prosperity to each and every exporting and stakeholder unit.
