Tamil Nadu CM Urges PM Modi to Eliminate 11% Cotton Import Duty to Protect Jobs
Tamil Nadu CM Vijay Urges PM Modi To Remove 11% Cotton Import Duty, Cites Threat To Jobs
News 18
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Tamil Nadu Chief Minister Vijay has urged Prime Minister Narendra Modi to remove the 11% import duty on cotton, citing a severe crisis in the textile sector that employs many rural women. He reported a 25% increase in cotton prices over the past two months, which threatens jobs and the state's textile exports.
- 01Tamil Nadu's textile sector is facing a crisis due to rising cotton and yarn prices.
- 02Cotton prices have surged by 25% from ₹54,700 to ₹67,700 per candy in two months.
- 03Yarn prices have also increased from ₹301 to ₹330 per kg, exacerbating material shortages.
- 04The chief minister has requested a reduction of the import duty on cotton from 11% to 0%.
- 05The textile industry is crucial for employment, especially for women in rural areas.
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Tamil Nadu Chief Minister Vijay has sent a letter to Prime Minister Narendra Modi requesting the removal of the 11% import duty on cotton. He highlighted a 25% increase in cotton prices, which rose from ₹54,700 to ₹67,700 per candy over the past two months, and a rise in yarn prices from ₹301 to ₹330 per kg. This surge has created a significant raw material shortage, threatening the textile sector's stability, which is the largest employer of rural women in Tamil Nadu. The chief minister emphasized that the textile and apparel industry is vital for the state's economy and employment, urging the central government to intervene by reducing the import duty to 0%. This action would help maintain competitiveness in global markets and protect jobs in the sector.
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Removing the import duty could stabilize cotton prices, ensuring a steady supply of raw materials for the textile industry, which in turn protects jobs for thousands of rural women.
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