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

Textiles | On 5th Dec 2016

Uster mill makes Indian yarn firm top supplier to China

Kikani Exports, one of India’s leading yarn suppliers, with 12 years...

Courtesy: Myntra

Apparel/Garments | On 3rd Dec 2016

Myntra to be EBITA positive by FY18: CEO Narayanan

Myntra is on track to achieve sustainable growth and be EBITA...

Courtesy: India ITME Society

Textiles | On 3rd Dec 2016

India ITME 2016 opens with over 1050 exhibitors

The India International Textile Machinery Exhibition (India ITME)...

Interviews View All

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Eric Scholler
Groz-Beckert

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search