South Indian Spinners Association (SISPA) today said the GST Bill would benefit the entire textile chain and requested the Centre to direct departments concerned to keep 50 lakh cotton bales as buffer stock to avoid shortage.
SISPA also urged the government to bring out a comprehensive cotton and synthetic fibre policy to establish secure policy measures that would benefit cotton farmers and enable the spinning industry to grow consistently, thus generating millions of jobs and hence provide additional revenue to the exchequer.
The Association at its 25th Annual General Body Meeting here urged the Tamil Nadu government to amend laws to permit low tension electricity consumers purchase private power, as in the case of high tension consumers, as it will help reduce power and production costs.
SISPA requested the government to give relief to the spinning industry's long-standing request of removal of one per cent market committee cess on cotton and waste cotton.
The AGM earlier elected K Rangarajan as SISPA president for a two-year team from 2016-18.
N Murugesan, J Selvan and S Jagadesh Chandran were elected as Vice Presidents.
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