A Press Meet was organized by Andhra Pradesh Textile Mills’ Association (APTMA) in which Mr. Lanka Raghuram Reddy, Honorary Chairman, Mr. P. Koti Rao and other office-bearers participated and addressed the Press.
The Press Note issued by APTMA is reproduced below:
Subject: Urgent Appeal for Support to the Textile Industry in Andhra Pradesh
The AP Textile Mills Association (APTMA) is deeply concerned about the critical situation facing the textile industry in Andhra Pradesh. A range of challenges, including 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.
As a result of these challenges, several mills are struggling to meet their financial obligations and meet their bank installment payments. Six mills have already shut down and several others are teetering on the brink of closure. This threatens the livelihood of over a lakh direct workers and another one lakh indirect workers dependent on the textile industry.
The APTMA urgently appeals to the Government of Andhra Pradesh to take immediate steps to support the textile industry.
Specifically, we request the following:
- All pending including 192 crore power incentives already sent to CFMS .A request for immediate release of 1500 crore rupees related to subsidies…
- Electricity subsidy concession of Rs 2/- per unit as provided in Telangana
- Exemption of recent electricity duty charges, true-up charges and FPCCI charges.
We also request the government to encourage the adoption of solar and wind power solutions to help the industry transition to sustainable energy sources.
The textile industry is a major contributor to the state’s economy and provides employment to lakhs of people. We urge the government to take immediate action to support the industry and safeguard its future. Failure to do so will have disastrous consequences for the industry, its workers, and the state’s economy as a whole.