The continuing decline in cotton yarn exports from April this year has left textile mills worried. Cotton yarn exports slumped 44% in July this year, compared with the same month last year. The downward trend continued in the first week of August as well. According to the Cotton Textiles Export Promotion Council, between April and July, cotton yarn exports fell nearly 35%. Exports to China, Korea and Bangladesh are down. However, competing countries are increasing their share in exports to markets such as China, South Korea, and Turkey. K.V. Srinivasan, chairman of the council, urged the government to extend 3% interest equalisation for cotton yarn. “Cotton yarn exports are at a five-year low,” Sanjay Jain, chairman of Confederation of Indian Textile Industry, said. India’s share in global textile and clothing exports has also seen a downfall.