Cotton spinning industry organization called on the government to refund tax - India
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Cotton industry has been one of the pillar of Indian textile industry, are also highly modernized and technology-driven industries.
From April to June in 2019, India's cotton yarn exports from a year earlier to 33.
80000 tons of down to 22.
60000 tons, 33% year-on-year.
The monthly view, 4 - this year
June India's cotton yarn exports from 90000 tons to 7.
70000 tons, down to 5 again.
In June 5.
90000 tons is the lowest in the past five years.
Cotton industry has been one of the pillar of Indian textile industry, is highly modern and technology driven, but also provides a sustainable income for farmers.
The reasons for the sharp drop in a variety of reasons, including the major export markets such as China, Bangladesh, South Korea's exports are falling, and China from April 1, 2019 provided to countries such as Pakistan and Vietnam imported duty-free access of cotton yarn.
Indian industry, he says, considering the massive investment in the textile industry and domestic market demand is weak, the export is the only way to ensure uninterrupted production and capacity utilization.
Although the cotton yarn is a value-added products, but it was out of the interest subsidies, MEIS and ROSCTL plans such as export interests.
In view of the above, the Indian industry association called on the government to cotton yarn into the plans for interest subsidy, and returned in the production process of taxes and fees.
If the next quarter of falling exports trends continue, will cause the mills to fold.