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Coimbatore spinning mills will stop yarn production from July 15 as losses pile up

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“For the first time in the last 20 years, exports of yarn and textiles have declined by around 28 percent,” a spokesperson for the South India Spinners Association claimed.
For the first time in the last 20 years, exports of yarn and textiles have declined by around 28 percent, according to the South India Spinners Association. The spinning mills in Gujarat can wait for another month for yarn prices to go up and, if they don’t, production in the western state may also go down by 15-20 percent, a spokesperson said. The industry, in both Tamil Nadu and Gujarat, wants a reduction in import duty, a unified policy, and more emergency loans to tide over the current crisis.

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