With various problems being faced by small spinners, President, K Thirunavukkarasu of South India Spinners Association (SISPA) has urged Textile Commissioner Kiran Sony Gupta to make sure that quality raw material, cotton is made available at reasonable price level without much instability.
SISPA wants the textile ministry to maintain a stock to use ratio of 50 lakh bales of cotton stock till the end of the cotton arrival season to meet the needs of the spinning sector.
The Association has put forward their request for 4 percent Interest subsidy for loan sanctioned before March 2013, due to delay in allotment of Unique Identification (UID) number units and recommend the government to abolish the Hank Yarn Obligation Scheme or at least reduce it to a minimum level of 10 percent.
Further, to create a level playing field in the international market, the government should scrap excise and customs duty on synthetic fibers, extension of Technology Upgradation Fund Scheme for another five years and restoring five per cent interest Subsidy under Revised Restructured Technology Upgradation Fund Scheme for the SME Sector.
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