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India's 2016-17 cotton import to touch 17 lakh bales
Dec '16
The import of cotton from international markets by spinning mills in India is likely to touch 17 lakh bales of 170 kg each during the current cotton season 2016-17 that began on October 1. This figure is slightly lower than the estimated 20 lakh bales imported in 2015-16 cotton year, but it is higher than the volume imported in 2013-14 and 2014-15.
In cotton year 2013-14, India imported 11.51 lakh bales, which increased to 14.39 lakh bales in 2014-15, Union textiles minister Smriti Irani said in a written reply to a question in Rajya Sabha.
Cotton imports depend on various factors such as availability of better quality cotton, demand and supply position of certain varieties of cotton, availability of international credit finance at lower interest rate, higher yarn realisation, etc which ultimately lead to economic advantage to the industry.
In order to protect the interest of Indian cotton farmers, government is implementing Cotton Development Programme by transferring latest technology to cotton growers. Further to avoid distress sale and promote cotton farming, government is procuring cotton from farmers at Minimum Support Price (MSP), Irani said. (RKS)

Fibre2Fashion News Desk – India

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