During its annual meeting in Coimbatore on Sep 25, 2024, the South India Spinners Association (SISPA) urged the Cotton Corporation of India (CCI) to establish cotton warehouses in Tamil Nadu, as textile mills in the state consume 45 per cent of the country’s cotton production.
Emphasising on the need for these warehouses to facilitate easier access to cotton, SISPA proposed that mills that purchase cotton from the CCI after the free period should be charged a reduced interest rate of 6.5 per cent, rather than the current 15 per cent. They also urged the Central Government to implement direct transfers of the Minimum Support Price (MSP) to cotton farmers selling to the CCI, while monitoring whether cotton mills are purchasing beyond their consumption capacity to prevent excess stockpiling.
Additionally, SISPA requested an exemption from the 11 per cent duty on cotton imports from April to October to ensure a steady supply of raw materials for the textile industry, without compromising farmers' livelihoods.
The Association recently also honored three of its former presidents—V. Soundararajan, Ellen Textiles; K. Narayanasamy, Micro Cotspinn India, and AV Ramaraj,AVR Textiles—with the Scroll of Honor Lifetime Achievement Award.
