Financial Daily from THE HINDU group of publications
Wednesday, Sep 25, 2002
Financial Daily from THE HINDU group of publications Wednesday, Sep 25, 2002 |
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Industry & Economy
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Industry Associations SICA `emeritus' president Our Bureau
Mr G.K. Sundaram
COIMBATORE, Sept. 24 THE Chairman and Managing Director of the Lakshmi Mills Company Ltd, Mr G.K. Sundaram, has been made `emeritus' President of the South India Cotton Association (SICA), which is into the 25th year of its existence this year. Mr Sundaram's elevation as the president `emeritus' was unanimously approved at the annual general meeting of the SICA held here on Sunday when the members' voiced the desire to confer the status to the octogenarian industrialist who has been the main-mover behind the premier cotton body formed in 1978. Mr Sundaram himself remained at the helm of the affairs of the SICA as its president continuously for more than 17 years until he opted out of the post only a few years ago on his own volition. Mr Sundaram who was on the dais at Sunday's AGM asked the SICA members to think in terms of securing an all-India `role' for the association in the light of the changing cotton trade/textile industry scenario. Incidentally, SICA which is moving towards evolving an acceptable `contract format' to safeguard the interests of the domestic cotton importers/textile mills has been enrolled as a member of the Indian Council of Arbitration sponsored by the Union Ministry of Commerce this year. This membership will enable the cotton trade to seek arbitration through SICA. Noted cotton scientist Dr Santhanam suggested that SICA could, either individually or in association with the Southern India Mills Association, directly get involved in cotton development by taking advantage of the Tamil Nadu Government's wasteland development programme launched recently. He also advocated promoting horticulture land cotton development by SICA as there was vast scope for promoting cotton as an inter-crop in horticulture lands. The Vice-President of SICA, Mr Hiralal Malani, felt that a scheme to promote cotton cultivation under the Windmill project would prove viable. SICA's AGM on Sunday gave approval for increasing the subscription of the members by 100 per cent.
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