News Tags

Related Keywords: Andhra Pradesh state government, AP Spinning Mills Association, contemplating to drastically slash power tariff, due to heavy losses, revive sagging morale of textile industry, several mills on verge of closure, spinning mills in the state, spinning mills provide employment

Andhra Pradesh state government is contemplating to drastically slash power tariff to spinning mills in the state to revive the sagging morale of textile industry. As the spinning mills provide employment to four lakh people in the state, but several mills are on the verge of closure due to heavy losses.

Related Keywords: clear pending dues pending under TUF scheme, expedite trade agreements with China, improve textile industry competitiveness, phase of recession, reduce excise duty on MMF, reduce VAT, seeks interim package, Southern India Mills’ Association, spinning mills in the state, Value Added Tax exemption

Southern India Mills’ Association to support the textile industry, especially the spinning mills is the State which is going through a phase of recession has appealed to the Chief Minister to take up with the Union Government the need for an interim package that will improve the industry’s competitiveness.

T. Rajkumar, chairman of the association said that an interim package will provide subsidy for export of textile products, enabling the industry increase its exports.