These units may soon become unviable resulting in closure and consequent large-scale unemployment and industrial unrest in the State, MK Stalin said.
He had also sought to revamp the commercial terms and conditions prescribed by the CCI for e-auction of cotton by reducing the minimum lot size to 500 bales which is sustainable for the MSMEs. Yarn manufacturers may be given priority in the procurement of cotton over traders, he had said and added that 5% interest subvention be extended to the spinning mills towards procurement of cotton during peak season (December to March).
As no concrete steps were taken by the Union government to control cotton and yarn prices, the power loom, garment and hosiery manufacturers of Palladam and Tiruppur have announced a hunger strike on January 21 throughout the State demanding the government to take immediate measures to control the yarn price, he said. The garment manufacturers in Tiruppur had stopped the production process for two days on January 17 and 18 as a token of protest against the prevailing yarn price hike, the Chief Minister added.
