Deeply concerned about the critical situation facing the textile industry in Andhra Pradesh (AP), The AP Textile Mills Association (APTMA) has raised its voice and urged the State Government to take immediate steps to support the textile industry.
Six mills have already shut down and several others are teetering on the brink of closure. Several mills are struggling to meet their financial obligations and meet their bank instalments. There are around 100 textile mills in the state.
Addressing the media, Lanka Raghuram Reddy, Honorary Chairman, P.Koti Rao and other office-bearers of APTMA highlighted that escalating cotton prices, dwindling yarn prices, surging power charges, and the post-COVID market imbalance, have severely impacted the industry’s financial viability and operational stability.
In addition, the non-release of sanctioned subsidies, the imposition of power cuts during peak hours, and the recent imposition of electricity duty charges, true-up charges, and FPCCI charges have further exacerbated the industry’s woes.
The association is of the view that these challenges have threaten the livelihood of over a lakh direct workers and another one lakh indirect workers dependent on the textile industry.
The association demanded for immediate release of Rs. 1500 crore related to subsidies and electricity subsidy concession of Rs. 2/- per unit as provided in Telangana.
Exemption of recent electricity duty charges, true-up charges and FPCCI charges, Government support to encourage the adoption of solar and wind power solutions to help the industry transition to sustainable energy sources are also requested.
