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Indian spinners seek govt intervention amid overcapacity concerns

*.*pt"> India&#**;s spinning industry is concerned about overcapacity resulting from the liberal incentives provided by various state governments to attract investment within their jurisdictions. Spinning associations have urged the state governments not to provide any incentives for spinning capacity expansion or new investments until the oversupply issue is addressed. 

*.*pt"> An urgent virtual meeting of the office bearers of all associations representing spinning mills and open-end spinning mills was convened to discuss and decide on strategies for mitigating the unprecedented crisis, Dr. S K Sundararaman, chairman of The Southern India Mills Association (SIMA), has stated in a press release.