Foreign news on July 24th: After nearly a week of interruption, Tamil Nadu small and medium-sized spinning mills (MSMEs) resumed the production and sales of cotton yarn. Previously, the South India Spinners Association (SISPA) and the Indian Spinners Mill Owners Association (ISMA) in Coimbatore held a meeting with the state government to encourage their members to restart production and sales.
Minister for Micro, Small and Medium Enterprises TM Anbarasan held the discussion. The Spinners Association seeks to address the current crisis facing the textile industry and has submitted a joint memorandum to ministers, who have pledged that they will raise the issue with the government. The government agreed to consider providing adequate relief to the industry.
The state government has also appealed to the central government to consider issues within its purview. They urged the central government to cancel the 11% cotton import tax and provide financial support under the Emergency Credit Line Guarantee Scheme (ECLGS), including extending the moratorium for another year.
