Rising cotton yarn prices are threatening the textile industry in Gujarat

Rising cotton yarn prices are threatening the textile industry in Gujarat as spinners cut production and shut down units despite Centre’s move to remove import duty. Raw cotton prices are hovering around Rs 1 lakh to Rs 1.15 lakh per candy. This has led to a decline in orders for yarn makers, says Saurin Parikh, President, Spinners Association of Gujarat. Nearly 120 spinning mills in Gujarat are running at little over 50 per cent capacity at present, adds Parikh. He is also the founder of Pashupati Cotspin