: OSMA urges govt to restrict comber noil exports #FinanceIndia #StockMarketNEWS OSMA urges govt to restrict comber noil exports New Delhi, June 27 (KNN) The Open End Spinning Mills’ Association

@StockMarketNEWS Tue 28 Jun, 2022

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OSMA urges govt to restrict comber noil exports #FinanceIndia #StockMarketNEWS
OSMA urges govt to restrict comber noil exports New Delhi, June 27 (KNN) The Open End Spinning Mills’ Association (OSMA) and North India Rotor Spinning Mills Association have urged the government to restrict the export of comber noil to check prices of cotton made-ups.

Products such as kitchen towels, bed sheets, women wear etc made from this yarn are sold in the domestic and international markets.

The association wants the government to only allow its export once the domestic demands are met.

G. Arulmozhi, president of OSMA, and Preetham Singh, president of the Rotor Spinning Mills Association, said that the “two associations have signed an agreement to work together to highlight the issues faced by these units to the government.”

The mills in the North and South make almost 35 kg of grey yarn a day and 45 kg of recycled coloured yarn a day.”

Apart from comber noil, these spinning units use banian waste and PET waste as raw material.

“The government should remove import duty on all machinery used at the open end spinning mills as all the machinery are imported,” they said.

It should come out with separate HSN code for yarn made at these units to promote exports.

Further, Cotton Corporation of India should source cotton when the new cotton season begins in November and sell directly to the mills to control cotton prices. (KNN Bureau)