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Financial aid alone can’t solve Textile crisis

THIRUVANANTHAPURAM: Industries Minister P K Kunhalikutty has said that by just providing financial assistance, the crisis in the textile industry cannot  be solved.  He said th

Published: 08th February 2012 05:57 AM  |   Last Updated: 16th May 2012 05:52 PM   |  A+A-

THIRUVANANTHAPURAM: Industries Minister P K Kunhalikutty has said that by just providing financial assistance, the crisis in the textile industry cannot  be solved.

 He said that the textile sector in the country was reeling under crisis owing to the global slowdown and variations in the cotton prices coupled with fall in prices in the export sector.

 Speaking at a workshop organised by Centralised Cotton Purchase Committee on ‘modernisation of textile industry’ here on Tuesday, Industries Minister said that the State Government had taken adequate steps to ensure that the shortfall of cotton would be regularised. ‘’The government has already given huge financial aid to the sector. But, just financial assistance will not help the sector overcome the present crisis. Alternative measures ought to be sought to make the textile industry to cross the present crisis,’’ Kunhalikutty said. He said that one of the ways to tackle the crisis was to diversify the textile products.

 Industries Secretary Alkesh Kumar Sharma, Industries Department Special Secretary K S Sreenivas, heads of textile mills in the state, technical experts were among others who particpated in the workshop.



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