SIMA Urges Govt To Address Textile Industry's Raw Material Concerns

(MENAFN- KNN India) New Delhi, Sep 18 (KNN) The Southern India Mills Association (SIMA) has called on the Central government to address key issues affecting the textile industry, particularly those related to raw materials.

In a press release following its annual meeting, SIMA Chairman S.K. Sundaraman emphasised the need for a technology Mission on Cotton (TMC) to boost cotton production and productivity.

Additionally, the association urged the government to resolve the inverted duty structure for manmade fibre (MMF).

Last cotton season, the government announced a special package to promote indigenous seed technology, high-density cotton planting, improved agronomy practices, and the cultivation of extra-long staple cotton.

Initial trial projects under this initiative have reported a productivity increase of 30 per cent to 60 per cent, with phase II trials currently underway.

During a recent meeting with Union Finance Minister Nirmala Sitharaman in Coimbatore, the Minister assured the industry that steps would be taken to address the inverted duty structure in the MMF value chain under GST.

Although this issue was partially resolved in 2022, it was reversed due to opposition from certain industry segments.

At the SIMA annual meeting, Sundaraman, Managing Director, Shiva Texyarn, was re-elected as chairman of the association for 2024-25.

Durai Palanisamy, Executive Director, Pallava Textiles, Erode, and S. Krishnakumar, Managing Director, Sulochana Cotton Spinning Mills, Tiruppur, were re-elected as deputy chairman and vice chairman, respectively.

The same office-bearers were also elected to lead the SIMA Cotton Development & Research Association (SIMA CD & RA).

(KNN Bureau)

MENAFN18092024000155011030ID1108689156