Textiles Minister of India, Dayanidhi Maran, revealed that the Union government would not allow the cotton exports to exceed the ceiling of 5.5 million bales as sanctioned by it.
This was revealed by the Union Minister while he was laying the foundation for Erode Powerloom Mega Cluster in Erode, Tamil Nadu.
The Minister had laid the foundation for an enormous textile marketing complex, as part of the broad scheme of Powerloom Cluster run by the Textiles Ministry. The Centre had approved Rs 700 million for this mega cluster as subsidy.
He also gave the assurance that the Ministry of Textiles would take all the necessary measures to save the domestic textile sector, while referring to the excessive rise in cotton prices which is affecting the domestic textile sector.
Fibre2fashion News Desk - India
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