Related Keywords: cotton cone yarn, cotton prices starting soaring, domestic cotton prices, help industry tide over current crisis, long-term and short-term measures, raising prices of hosiery yarn, reduce VAT, reducing production, SIMA, taking desperate measures, Textile mills in the Manchester of South India, unlikely to come down until next season
Textile mills in the Manchester of South India are taking desperate measures like reducing production and raising prices of hosiery yarn as the cotton prices that starting soaring in October are unlikely to come down until the next season according to India Ratings and Research. As a result, textile mills in the state, which account for 46% of the spinning capacity in the country, preferred to bring down production by 15% to 20%, to at least cut their losses.
