New Delhi: The Textiles Ministry on Wednesday said there is no shortage of cotton yarn and the country has a closing stock of 90 million kg for 2012-13.
Replying to question if there is a shortage of yarn supply in India, Minister of State for Textiles Panabaaka Lakshmi said, "No."
The Cotton Yarn Advisory Board (CYB) in its meeting on August 23, 2012, assessed the production/consumption of cotton yarn and observed no shortage of cotton yarn in the country, she informed the Rajya Sabha in a written reply.
The country has a closing stock of 90 million for 2012-13, she added.
Replying to another question, Lakshmi said a decline was witnessed in cotton yarn production in 2011-12 due to sudden crash in prices of cotton/cotton yarn leaving industry with high cost inventories.
However, the trend has reversed in 2012-13, she said.
Further, she said that given the stress levels of textiles industry, the government has issued directions to banks for restructuring of textiles mill loans on a case-to-case basis in accordance with the RBI's prudential norms on restructuring of advances by banks.
The debt restructuring package covers about 307 textiles mills in private sector and around 200 garment factories in small and medium enterprises sector, Lakshmi said.
The restructuring exercise will help boost textiles industry's growth in the country and provide re-employment to workers engaged in the sector, she added.
First Published: Wednesday, September 05, 2012, 19:47