Spinning Body Visits Indian Prime Minister
Manmohan Singh, prime minister of India, visited Coimbatore, the textile city, on April 9 as part of an election campaign for the forthcoming State of Tamil Nadu assembly elections. Mr. J. Thulasidharan, Chairman of SIMA met the prime minister during his visit.
Secretary General of SIMA Dr. K. Selvaraju, in a telephone conversation, confirmed that the SIMA chairman Thulasidharan personally handed over the memorandum request to the Prime Minister on Saturday, April 9.
SIMA has pleaded the prime minister that the raw cotton export should be permitted from India only after January every season. In addition, the spinning body is asking special assistance with regard to working capital such as the interest rate to be brought down to 7 percent from the current rate of 14 percent increase the credit period from 3 months to 9 months and also reduce the margin money from 25 percent to 10 percent.
In the memorandum plea, the association has emphasized the export of 5.5 million bales (170 Kgs each), which is the allotted amount for this current season, will result in cotton scarcity during the end of the current cotton season and the beginning of the next season. The association estimates that at the current consumption rate an ending stock of at least 6 million bales (170 Kgs each) is needed which necessitates the immediate curbing of cotton exports from India till January 31, 2012.
In addition to the SIMA plea, according to media reports, the Prime Minister in the public rally on April 9 has said that his government wants to find a viable solution to the pollution problems facing the dyeing units in Tirupur, the hosiery town in South India.