Confederation of Indian Textile Industry (CITI) has sought Prime Minister's intervention to stabilise the cotton prices, which have soared to the peak in the last 11 cotton seasons. It has also urged for a cotton price stabilisation fund Scheme comprising 5% interest subvention or loan at NABARD rate of interest, reduction in margin money from 25% to 10% and increase in the cotton working capital limit from 3 months to 9 months.
Several Vietnamese industries, especially labour-intensive ones like textile, garments and leather, are likely to face a labour shortage when they resume operations after the pandemic gets over. A survey covering 300 companies in early September found that only about 40 per cent of their workers wanted to return to work when the city reopened on October 1.
