A Sakthivel, Chairman, AEPC welcomed the government’s decision to reduce cotton prices. Sakthivel thanked textiles minister Smriti Irani for taking several initiatives to protect and revive the apparel exporting industry since the outbreak of the coronavirus pandemic.
He said, the move will help reduce the burden on garment exporters across the country. Cotton yarn prices have consistently increased in the last four months. High prices of cotton yarn and unpredictability in its availability were affecting the entire value chain and having an adverse cascading effect on garment exports.
Irani met the industry representatives on March 18, 2021, to discuss the issue of yarn price increase. Today, CCI announced that the cotton prices have been reduced by around Rs1,500 per candy.
