Primary Country (Mandatory)

United States

Other Country (Optional)

Set News Language for United States

Primary Language (Mandatory)
English
Other Language[s] (Optional)
No other language available

Set News Language for World

Primary Language (Mandatory)
English
Other Language(s) (Optional)

Set News Source for United States

Primary Source (Mandatory)
CNN
Other Source[s] (Optional)

Set News Source for World

Primary Source (Mandatory)
AajTak
Other Source(s) (Optional)
  • Countries
    • India
    • United States
    • Qatar
    • Germany
    • China
    • Canada
    • World
  • Categories
    • National
    • International
    • Business
    • Entertainment
    • Sports
    • Special
    • All Categories
  • Available Languages for United States
    • English
  • All Languages
    • English
    • Hindi
    • Arabic
    • German
    • Chinese
    • French
  • Sources
    • India
      • AajTak
      • NDTV India
      • The Hindu
      • India Today
      • Zee News
      • NDTV
      • BBC
      • The Wire
      • News18
      • News 24
      • The Quint
      • ABP News
      • Zee News
      • News 24
    • United States
      • CNN
      • Fox News
      • Al Jazeera
      • CBSN
      • NY Post
      • Voice of America
      • The New York Times
      • HuffPost
      • ABC News
      • Newsy
    • Qatar
      • Al Jazeera
      • Al Arab
      • The Peninsula
      • Gulf Times
      • Al Sharq
      • Qatar Tribune
      • Al Raya
      • Lusail
    • Germany
      • DW
      • ZDF
      • ProSieben
      • RTL
      • n-tv
      • Die Welt
      • Süddeutsche Zeitung
      • Frankfurter Rundschau
    • China
      • China Daily
      • BBC
      • The New York Times
      • Voice of America
      • Beijing Daily
      • The Epoch Times
      • Ta Kung Pao
      • Xinmin Evening News
    • Canada
      • CBC
      • Radio-Canada
      • CTV
      • TVA Nouvelles
      • Le Journal de Montréal
      • Global News
      • BNN Bloomberg
      • Métro
Business Dress Shirts Wrinkle Free Buy Now
Smart Piano with Rainbow Lights Buy Now
Men's Cotton Cardigan Buy Now
AUTOMET Long Sleeve Tee Buy Now
Kaliyadi Polarized Sunglasses for Men Buy Now
4-in-1 Retractable Car Charger (69W USB-C) Buy Now
KISS WIFE Christmas Jewelry Set for Women Girls Buy Now
Meaningful Beauty Lifting Eye Crème Buy Now
Polarized Retro Sunglasses Buy Now
Levi's Women's Mid Length Shorts Buy Now
NELEUS Women's Running Shorts Buy Now
ASUS Vivobook Go 14 L410 Ultra Thin Laptop Buy Now
Canon EOS Rebel T7 DSLR w/ 18-55mm Lens Buy Now
Lightweight Cotton Sport Jacket Buy Now
Medicube Age-R Pro Glass Skin Massager Buy Now
Kanjivaram Soft Silk Saree Buy Now
Rimless Rectangle Sunglasses for Men Buy Now
Women's Summer Tops Buy Now
Cremo Italian Bergamot Body Wash Buy Now
Anne Klein AK/3702 Watch Buy Now
MoreBack to News Headlines
T.N. CM urges PM to withdraw import duty on cotton and restructure credit scheme to help struggling spinning mills

T.N. CM urges PM to withdraw import duty on cotton and restructure credit scheme to help struggling spinning mills

The Hindu
Wednesday, July 19, 2023 10:30 AM GMT

Tamil Nadu CM Stalin appeals to PM Modi to withdraw 11% import duty on cotton, restructure ECLGS & temporarily ban export of waste cotton to help struggling spinning industry. Requested to extend moratorium on loan repayment, reduce interest rates & extend cash credit limits.

Tamil Nadu Chief Minister M.K. Stalin on Wednesday appealed to Prime Minister Narendra Modi to withdraw the 11% import duty on cotton, restructure the Emergency Credit Line Guarantee Scheme (ECLGS), and temporarily ban the export of waste cotton to help the spinning industry, which is struggling due to a steep increase in cotton prices.

In a letter to the Prime Minister, Mr. Stalin said the increase in the price of cotton and its impact on the cost of yarn and fabrics has affected the spinning sector in Tamil Nadu which has around 1,500 mills, and 15 lakh employees.

The CM pointed out that the spinning mills’ association in the State had declared a stoppage in production since July 15 due to the crisis the sector was facing due to high cotton prices, increased operational costs, increases in bank interest rates and poor demand in domestic and international markets.

Besides, the repayment of short-term loans, provided under ECLGS to help micro, small and medium enterprises (MSME) post the COVID-19 pandemic, has commenced now, placing an additional burden upon the spinning mills. The Union government should extend the moratorium on the repayment of these loans by another year, the CM said. He further appealed to the government to consider restructuring the existing loans to six-year term loans while providing fresh loans at reduced interest rates.

Recalling the letter he wrote to the PM in May 2022, Mr. Stalin reiterated his earlier request to extend the time of cash credit limits of spinning mills for purchasing cotton from three months to eight months and reduce the margin sought by the banks to 10% of the purchase value.

Arguing that a significant price differentiator between India and its international competitors was the 11% import duty on cotton, he requested the Union government to withdraw this as it would help in significant reduction of production costs.

Mr. Stalin further requested the Prime Minister to consider a temporary ban on the export of waste cotton to address its shortage being faced by open-end spinners, who came under micro enterprises and accounted for 35% of the yarn production in the country.

Read full story on The Hindu
Share this story on:-
Run 3 Space | Play Space Running GamePlay Run 3, the ultimate space tunnel running game with 300+ challenging levels!Adv.
Traffic Jam 3D | Online Racing GameTraffic Jam 3D is a game where you’ll be driving through heavy traffic.Adv.
Duck Hunt | Play Old Classic GamePlay the classic 1984 light gun shooter game Duck Hunt on your browser.Adv.
More Related News
Gymnasts hold silent protest urging protection of gymnastics centre

Parents and students protest to protect Visakhapatnam gymnastics facility from conversion to multi-sport complex.

Who are qualified as ‘ordinarily resident’? | Explained

Debate on 'ordinarily resident' status for electoral rolls in Bihar sparks discussion on migrant voter rights.

Brazil launch Women's Copa America title defence with 2-0 win over Venezuela

Brazil defeats Venezuela 2-0 in Women's Copa America opener, showcasing strong offense and solid defense.

A colourful torchlight procession marks the eve of Bastille Day

Torchlight procession in Pondicherry celebrates Bastille Day with music, lanterns, and French-Indian unity, culminating in fireworks.

DU dreams hit digital barriers in Haryana villages 

In Rohtak, misinformation, digital processes, and costs hinder rural students' access to higher education opportunities in Delhi University.

Trump assassination attempt: Senate report says ‘inexcusable’ failures led to shooting, calls for more disciplinary action

A congressional inquiry into the attempt to assassinate U.S. President Donald Trump at a campaign rally a year ago lamented “inexcusable” failures in the Secret Service’s operations and response, and called for more serious disciplinary action.

Radhika’s murder was pre-mediated, planned for three days, claims her friend Himaanshika

Himaanshika Singh Rajput reveals pre-meditated murder of friend Radhika Yadav due to parental restrictions in emotional Instagram videos.

Not foreigners, Biharis will decide fate of Bihar: BJP

BJP criticizes opposition for questioning Bihar voter list scrutiny, assures only Biharis will decide state's fate in polls.

Morning Digest: No urgent safety concern in Air India crash report, says FAA; Sinner beats Alcaraz to win Wimbledon men’s title; and more

The Hindu Morning Digest gives a select list of stories to start the day. Read the top news today on July 13, 2025

Climate change is changing where and how Indians are living Premium

Climate change impacts Bundelkhand, leading to droughts and migration, while erratic rainfall forces sugarcane workers to migrate for work.

Trump to make unprecedented second state visit to U.K. between September 17-19

President Trump to make second state visit to U.K., hosted by King Charles II and Queen Camilla at Windsor Castle.

Drainage systems in most of Delhi working fine: Parvesh

Delhi Minister addresses water accumulation concerns amid heavy rain, AAP demands transparency, and Yamuna river inspection for cleanliness.

Some rules to open the gates of financial freedom Premium

Learn how to achieve financial freedom with simple rules like the 15*15*15 Rule and the Rule of 72.

Parking Slot | Free Parking GamePlay Parking Slot, the best online 3D car driving and parking game.Adv.
Slope Ball Run - Play OnlineSlope Game takes you on an exciting journey of a ball on special paths.Adv.
Teenmar Mallanna’s office vandalised for his comments on Kavitha

Supporters of MLC K. Kavitha clash with YouTuber Teenmaar Mallanna, sparking chaos and gunfire, leading to police investigation.

Chennai school principal’s love for animals, a lesson for children

Principal and correspondent of MCC School Chetpet, Grace Sheela, teaches compassion and empathy to her students by taking care of injured animals; they are also taken to class

Government urged to complete Amaravati development in a time-bound plan

Andhra Pradesh Congress leader urges completion of Amaravati capital project, emphasizing accountability and justice for farmers.

Etihad asks pilots to exercise caution with fuel control switches on Boeing 787s, orders their inspection

Etihad issues directive to pilots on Boeing 787 fuel control switches following FAA advisory, emphasizing caution and inspection.

Major fire destroys furniture outlet in heart of Kochi city in Kerala

Furniture outlet in heart of Kochi city in Kerala gutted in early-morning fire

Club World Cup final: Scuffle breaks out at the end as Luis Enrique, Donnarumma confront João Pedro

Scuffle erupts after Chelsea wins Club World Cup, PSG coach and goalkeeper push Chelsea forward player.

An unlikely study centre in Chennai

From an economically disadvantaged family, Merlin Asha successfully prepared for the Agriculture Officer examination making use of the facilities at Lutheran Anbunathar Church in Anna Nagar

Lokesh, Jagan condole the death of farm workers in Railway Kodur road mishap

Education and IT Minister Nara Lokesh expresses shock over tragic road accident, directs timely medical aid for victims.

CM Naidu expresses shock over Railway Kodur lorry accident

CM N. Chandrababu Naidu expresses shock over a fatal road accident, instructs authorities to provide medical care and assistance.

’Click-to-cancel’ is over, but there are other ways to unsubscribe

Former President Joe Biden’s administration had included the FTC’s proposal as part of its “Time is Money” initiative.

The Hindu journalist receives ITFoK media award for best reporting 

Mini Muringatheri of The Hindu wins media award for best reporting at ITFoK 2024, presented by Minister R. Bindu.

Demand to restore green cover in key city corridors

NHAI and KMRL face backlash for cutting trees, vow to plant ten times the number cut.

© 2008 - 2025 Webjosh  |  News Archive  |  Privacy Policy  |  Contact Us