Kerala’s industries minister AC Moideen made the announcement at a meeting of the trade union leaders. He also listed other reasons like a hike in the price of yarns and high capital investments required for importing latest equipment and machinery as reasons for the stagnation of the state’s textile industry.
Moideen also said that an expert committee will be formed to analyse the problems of the textile industry and come up with suggestions and recommendations to revive it in March next year. (KD)
ALCHEMPro News Desk – India
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