Kongu Nadu, the owner of a spinning mill in Tamil Nadu, India, complained to the Ministry of Textiles of India that Chinese yarn traders formed a cartel to control prices and harm the interests of Indian cotton yarn exporters.
The Indian Textile Entrepreneurs Federation (ITF), a local textile enterprise federation in Tamil Nadu, proposed to the Ministry of Textiles that cotton yarn exporters should be encouraged to open sales offices in China to sell yarn directly. to Chinese textile mills to prevent them from excessively lowering prices when faced with Chinese cotton yarn traders, resulting in very little profit for exporters. Opening an office will also help you gain more local market information.
ITF Secretary General Prabhu Damodaran also proposed to the Ministry of Textiles that instead of waiting to sign any major trade agreement (such as the free trade agreement with the EU being negotiated), it is better for the Ministry of Textiles and the Ministry of Commerce to cooperate with some countries (with market potential) But India has not yet entered) to sign a special trade agreement in textiles.
Damodaran’s proposal mentioned that cotton yarn and fabric exports increased by 5% in September compared with August, indicating a rebound. In addition, he believes that the domestic market has huge potential that has yet to be developed, and the government should provide more promotion and stimulation, which can offset the adverse effects of declining exports and help spinning mills and garment factories get rid of their current loss-making situation. According to Indian news, Chinese imported yarn traders have reached an alliance