With the cotton and yarn prices going up, affecting the textile industry in Tamil Nadu, Chief Minister M.K. Stalin has sought Prime Minister Narendra Modi's intervention to improve the situation.
As an immediate measure, stock declaration for cotton and yarn may be made mandatory for all spinning mills so that ginners and cotton traders can obtain actual data on their availability, Mr. Stalin said in his letter to the Prime Minister.
Though the Union government had waived import duty on cotton till September 30 this year, it would take more than three months for the consignment to reach Indian ports after signing of the contract. Effectively import duty waiver would be available only up to June 30, he said.
