கோயம்புத்தூர் நேரலை - இது கோவையின் இதயதுடிப்பு
The rising rupee is expected to cause a slump in yarn exports. It stood at $ 1.63 billion last fiscal but is expected to register a 35% dip this fiscal due to higher value of rupee against the dollar plus reduced enquiries. Cotton Textile Export Promotion Council (Texprocil) chairman Prem Malik said the competitiveness of the textile industry has detroirated substantially. “If this trend continues, there would be a sharp fall in exports resulting in loss of jobs and affecting the farmers who are now getting a remunerative price for their produce,” he said. Southern India Mills’ Association (Sima) chairman K V Srinivasan, said almost all its member units have halted new investments and no expansion is underway now. Both associations have represented to the government to exempt service tax on the value of service rendered by the foreign commission agents and cut freight charges.
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The rising rupee is expected to cause a slump in yarn exports. It stood at $ 1.63 billion last fiscal but is expected to register a 35% dip this fiscal due to higher value of rupee against the dollar plus reduced enquiries. Cotton Textile Export Promotion Council (Texprocil) chairman Prem Malik said the competitiveness of the textile industry has detroirated substantially. “If this trend continues, there would be a sharp fall in exports resulting in loss of jobs and affecting the farmers who are now getting a remunerative price for their produce,” he said. Southern India Mills’ Association (Sima) chairman K V Srinivasan, said almost all its member units have halted new investments and no expansion is underway now. Both associations have represented to the government to exempt service tax on the value of service rendered by the foreign commission agents and cut freight charges. 
