October 2019 Edition Apparel October 2019 issue | страница 80

INDUSTRY INSIGHTS
NITMA HAS CITED THIS AS THE
BIGGEST CRISIS EVER, WHICH
HAS BEEN GRAVELY IMPACTING
THE SPINNING INDUSTRY.
Similarly, Southern India Mills Association (SIMA)
has also been considering reducing 25 per cent
of its production in order to restore the balance
between demand and supply.
NITMA has cited this as the biggest crisis ever,
which has been gravely impacting the spinning
industry. A similar crisis affected the industry
way back in 2010–11. During that period, India’s
cotton output had dipped to 332.25 lakh bales.
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I APPAREL I
October 2019
Going by the data procured from the Directorate
General of Commercial Intelligence and Statistics
(DGCI&S), NITMA explains that the export of
cotton-yarn value experienced a 34.6 per cent-
dip during April–June, 2019, as compared to the
same month-bracket in 2018.
The release by NITMA further went on
to highlight some other interlinked points.
“Technology Upgradation Fund Scheme (TUFS)
reimbursement has also been hurting the industry
as backlog of around R9,000 crore under various
TUF Schemes is pending. Clear and simplified
guidelines with time-bound clearances will ease
the way forward for the textile industry.” It also
threw light on the implications of the Goods and
Services Tax (GST) on the industry. It said, “GST
issues on T&C should be addressed so that
refunds can come to the industry quickly and