Representatives of the textile industry in India have conversed over the issues, trends and competitiveness of the industry at international level during a two-day CEO Conference held in Coimbatore, southern India.

Sharing his views at the seminar organised by the Southern India Mills’ Association (SIMA), BK Patodia, chairman and managing director of GTN Group stated that the textile mills usually do not keep yarn stocks in excess of 15 to 20 days of their requirement.

But, during the last fiscal as a ban was imposed on yarn exports, the mills were held back from exporting their produce for a period of around two months due to which stocks with them mounted.

Now, though the ban has been rolled back and the mills are free to export yarn, they are not being able to reap higher returns for the same.

This is mainly because around 90% of the total cotton cultivation land in the country was under Bt cotton, which has resulted in a rise in yields.

Mr Patodia said that in order to keep prices stable, the local mills should consider making timely and regular purchase of raw materials.

Former SIMA chairman J. Thulasidharan suggested that the centre should as soon as possible introduce the National Fibre Policy so as to ensure fairness and stability of prices.

Deputy chairman of the Cotton Textiles Export Promotion Council, Manickam Ramaswami said that over the next three years, India’s textile and clothing industry would exercise a hold over 40 to 50% share of global yarn market and over 20 to 25% of grey cloth market.

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