Raja M Shanmuugham, President, Tirupur Exporters Association (TEA) assured stakeholders Union Textiles Ministry is working to resolve the crisis arising out of the frequent rise in yarn prices and disruption in supply chains. Shanmugham hoped to come out with a positive solution to the crisis. He said, Indian cotton prices have gradually reduced in line with the reduction in international cotton prices. He expected normal price range to prevail in the near future.

Shanmugham requested the ministry to consider TEA's plea for reduction of yarn prices and also ensure supply of yarn in time as per the commitment given to the members of the association. This could help mutual growth of both sectors in the long run, he added.

Shanmugham hoped the new financial year would give business confidence, prosperity to all exporting units and the stakeholder units connected with exporting units. He appealed to exporting units and the stakeholders units to be cautious and ensure vaccination of members, their employees and others connected with the industry, who were aged above 45.