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Surat textile industry to set up yarn bank

It will not only help small and medium weavers get access to yarn at discount but also help local manufacturers innovate in yarn production

Vinay Umarji  |  Ahmedabad 

Amidst raw material shortage and price fluctuations, The Surat-based synthetic textile has sought setting up of a yarn bank with the Ministry of Textiles. According to the industry, the yarn bank will not only help small and medium weavers get access to yarn at concessional rates but also help local manufacturers innovate in yarn production.

"The yarn bank will serve twin purpose. Firstly, we can get yarn samples from around the world and store it. There are several kinds of yarns of various deniers that are produced across the world which we are yet to know of. Hence, the domestic can get access to yarn samples of global standards and do further research and come out with innovative products. Secondly, small time weavers can get access to yarn at concessional rates," said Jitu Vakharia, president of South Gujarat Textile Processors Association (SGTPA).

On its part, the Ministry of Textiles has also offered help in setting up the yarn bank. During his recent visit to the Surat textile industry, K S Rao, Union Minister of Textiles, alongwith Sunaina Tomar, Joint Secretary, Ministry of Textiles, and Textile Commissioner informed the local manufacturers that he understood the need for setting up a yarn bank.

"The National Small Industries Corporation (NSIC) of Department of MSME is already doing something similar with the steel Due to lot of price fluctuation, small and medium weavers are not able to get yarn at reasonable prices. With the yarn bank which can be set up with the help of NSIC and Ministry of Textiles, the government agency can buy yarn from large manufacturers and then sell it at concessional rates to small weavers through the bank," said Kamlesh Yagnik, president of South Gujarat Chamber of Commerce and Industry (SGCCI).

Not just offering yarn at concessional rates, the bank will help the industry do away with yarn brokers. "Manufacturers and yarn users can have direct relationship through this bank," Yagnik said.

Apart from yarn bank, the industry also demanded other kinds of assistance during Rao's visit. "Several issues concerning the synthetic textile industry including continuation of Technology Upgradation Fund Scheme (TUFS), high interest rate, uniform tax regime, anti dumping duty, more parks in Surat, council for textile parks, more fund for R&D, focused product scheme, more duty draw back, fabric exhibition, and common facility centres in powerloom clusters, problem of labour shortage were raised by the industry," the Textile Commissioner stated.

Meanwhile, having assured of some assistance in these regards, Rao also stressed the need for skill upgradation, stating that the same will be examined by the Ministry of Textiles on priority basis.

The Surat-based synthetic textile industry alone processes fabric of around 30 million metres per day.

First Published: Mon, July 15 2013. 20:56 IST
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