Spinners ask government to provide capital subsidy

Spinners are planning to reduce the cost of energy consumed by purchasing new energy efficient motors and energy saving electrical equipment. Therefore, the South India Spinners’ Association has proposed the State Government to provide capital subsidy on these energy saving machines.

The Association has come up with various other resolutions in their annual meeting and saving on energy consumed was one of them. It was also decided to request the Government to facilitate setting up marine discharge facilities in the coastal areas for the benefit of the textile processing sector. Due to shortage of sufficient processing facilities within the State, a large quantity of cotton yarn and fabric is processed in the northern States.

According to the association, the Cotton Corporation of India should facilitate direct selling of cotton to the spinning mills as the traders and mediators are now purchasing huge quantities and hence mills are not able to get fair prices.

The association expects the Union Government to support the export of yarn and fabric so that the manufacturers can grab opportunities in the global market. Hank yarn obligation should be reduced to 10 per cent from 40 per cent as its consumption is reducing in the country.