Home / Knowledge / News / Textiles / Cotton exports should be driven by genuine demand - CITI
Cotton exports should be driven by genuine demand - CITI
12
Mar '12
Confederation of Indian Textile Industry (CITI) has urged government to introduce measures to ensure that exports of cotton are driven by genuine demand in global markets. Reacting to the lifting of the ban that government had introduced on cotton exports, Mr. S.V. Arumugam, Chairman, CITI, stated that there were reports of speculative exports including stock transfer that would take out Indian cotton to other countries for hoarding in anticipation of future demand.

He pointed out that even after lifting the ban, measures would be necessary to scrutinise exports in order to ensure that only genuine transactions were permitted.

Mr. Arumugam observed that removal of the ban should not lead to speculative operations by traders. “Market forces and speculation should be differentiated and exports based on genuine demand in the overseas markets alone should be allowed”, he stated.

He also hoped that there would be enough cotton for domestic consumption, even after lifting the ban on exports. In this regard, he welcomed the balanced view taken by government in suspending further registration of cotton export contracts.

Mr. Arumugam reiterated his appeal to the industry to buy as much of cotton as possible in order to avoid any stress in the farming community. He also requested government to accelerate the process of allowing rescheduling of debt repayment by the textiles industry on the lines recommended by CITI, in order to enable the industry to buy more cotton.

Confederation of Indian Textile Industry (CITI)


Must ReadView All

Apparel/Garments | On 25th Jun 2017

Half of 7,000 new apparel online each day target women

Adobe has released its first Digital Price Index for apparels,...

Textiles | On 25th Jun 2017

First Insight, Chico's FAS enter partnership

First Insight, a technology company transforming how retailers make...

Apparel/Garments | On 25th Jun 2017

Expand changing use of social and web resources

With over 400 million impressions to date and web traffic of over two ...

Interviews View All

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search