Textile Industry feel itch due to cotton price
Textile industry in India feeling itch this year. The reason is that they have to pay more than the minimum support price of Cotton. MSP is 2800 Rs per quintal, whether they have to pay more than 2900. Other hand farmers are feeling good because they are getting tastier perk of this cash crop.
Textile owners feeling that due to to increasing cost they to increase in price of their products. Yarn price may hike 10 to 15 percent this year. The wears likely to hike in shape of price due to costly yarn. Textile industry already facing the problem of competetion international level. Hike in price of the products may decline in demand. Industry is feeling the tail of economic melt down.
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