Skip to content
Friday, March 31
  • Business
  • Entertainment
  • National
  • Lifestyle
  • Education
  • Sports
  • Press Release
The Prime Media

The Prime Media

Just another WordPress site

The Prime Media

The Prime Media

Just another WordPress site

  • Business
  • Entertainment
  • National
  • Lifestyle
  • Education
  • Sports
  • Press Release
  • Business
  • Entertainment
  • National
  • Lifestyle
  • Education
  • Sports
  • Press Release
Trending Now
  • Turn heads with your style and demonstrate your fashion sense with Italian Colony
  • WHISKERS INDIA highlights its upward growth graph; witnesses 33% YoY growth
  • Bengaluru’s leading F&B Company – OIEPL Food & Beverages hosts it’s Monthly R&R Program  
  • “Winning Gold for India at the Asian Games is the ultimate goal – Manish Man aka Manish Kumar
  • Product-Led Growth: Insights from Silicon Valley’s Top Product Expert, Asit Kumar Sahoo
  • Migrate applications to cloud-based platforms efficiently with AI-based technology developed by Golden Eagle IT Technology Private Limited
Home>>Press Release>>MSME Home Textile Sector Deeply Impacted With Spiralling Cotton Yarn Prices
Press Release

MSME Home Textile Sector Deeply Impacted With Spiralling Cotton Yarn Prices

The Prime India Online Desk
May 26, 2022

Mumbai (Maharashtra) [India], May 26: Prospects for the Home Textile Sector to achieve the target set this year is extremely difficult despite the fact that the Industry had opened up entirely after the second wave of the Covid-19 Pandemic. The Home Textile Sector mainly comprises MSMEs.

The Government of India has been highly Supportive. It has announced several measures like CGS, Loan Restructuring Measures, Moratorium, Deferment of interest Payments, ECLGS as well as CGTMSE for MSMEs on account of the impact of Covid -19 Pandemic.

Mr. Amit Ruparelia, Convener of Made-Ups Exporters Forum, stated, “The main reason for the problem to achieve the target has been spiralling cotton yarn prices. Post the second wave of the Pandemic, there had been very good all-around demand for Value Add Products such as Home Textiles,  Apparels and the sector was fully geared up to meet the demand; however, during the same period, the millers started increasing the prices for Cotton Yarns even though the Raw Cotton prices were stable and at a later stage the cotton price too rose tremendously affecting the business of entire value chain segment”.

The situation presently is extremely precarious with Value Chain Segment not only having to lose businesses but also the Market Share in countries like the USA. It is also now heading for closure of several MSME units unable to continue with unprecedented high prices of cotton yarns, resulting in severe JOB Losses.

The Government of India has been monitoring the situation. It has stated during the last stakeholders’ meeting that unless the supply chain ensures security for the supply of raw material at lower prices for the value chain to compete and obtain business, it may choose to withdraw benefits on exports of the cotton yarn and impose duties on exports of raw material if needed.

However, so far, no correction has been observed. It appears that the Government may have to resort to ensuring corrective measures; sadly, the value chain segment is heading slowly towards demise in the form of capital and job losses.

Related tags : PNN

Previous Post

Empyrean Cashews betting big on growth

Next Post

QFrame Movie and Studio 9 Production Join Hands for Their Joint Venture “The Crown” & Establishing Entertainment Multi-Ventures in South of INDIA

Related Articles

Press Release

Glowderma launches Germany’s Premium Baby Skin Care ‘Sanosan Cleansing Range’ in India

Press Release

Producer & Actor Shantanu Bhamare’s Next Bollywood Pop Album Baby De Ek Chance’ Released

Press Release

Humble beginnings led Dr. Tanya Chaudhari to ace the game of modelling, acting, and social work

Press Release

Famous film Soorma producer Deepak Singh is set to launch a Renowned Model in the ad world Phalguni Khanna through his festival film ‘Continuity’

Press Release

The Next Big Bollywood Release – Dhoop Chhaon, Will Soon Hit Theatres Across The Country

Recent Posts

  • Turn heads with your style and demonstrate your fashion sense with Italian Colony
  • WHISKERS INDIA highlights its upward growth graph; witnesses 33% YoY growth
  • Bengaluru’s leading F&B Company – OIEPL Food & Beverages hosts it’s Monthly R&R Program  
  • “Winning Gold for India at the Asian Games is the ultimate goal – Manish Man aka Manish Kumar
  • Product-Led Growth: Insights from Silicon Valley’s Top Product Expert, Asit Kumar Sahoo

Recent Comments

    © 2023 The Prime Media | WordPress Theme Ultra News
    • Business
    • Entertainment
    • National
    • Lifestyle
    • Education
    • Sports
    • Press Release