With global orders reducing drastically, the investment intensive industry is facing multiple challenges, leading to the sector shutting their shutters.
Tamil Nadu, which houses more than 50% of the spinning mills in the country, is facing a crisis. With global orders reducing drastically, the investment intensive industry is facing multiple challenges, leading to the sector shutting their shutters. The cotton farmers, workers in the sector and the industry are feeling the heat of the crisis. The increasing electricity charges and an inability to compete with countries with cheap labour, the spinning mills are craving for the incentives from the government of India. NewsClick spoke to Dr Venkatachalam, the Chief Advisor to the Tamil Nadu Spinning Mills Association, about the remedies sought by the industry.