Home / Knowledge / News / Textiles / India's ban on cotton exports to continue
India's ban on cotton exports to continue
10
Apr '12
The Government of India will continue with its ban on cotton exports, it was decided at a Group of Ministers (GoM) meeting on cotton headed by Finance Minister Pranab Mukherjee.

While no new registrations for export of cotton would be accepted, traders would be allowed to execute their pending contracts for export of about two million bales of cotton, Commerce and Textiles Minister Anand Sharma said after the meeting.

The GoM also asked the Cotton Corporation of India (CCI) to stop buying cotton from domestic market until the procurement price is approved by the Cabinet.

The CCI had earlier planned to purchase one million bales (1 bale = 170 kg) of cotton from farmers during April-May 2012 at a price of Rs. 4,500 per quintal, incurring an expense of around Rs. 2 billion.

However, the GoM did not arrive at a conclusion over the price at which the CCI should procure cotton from farmers, for creating a buffer stock.

The Ministry of Commerce banned exports of cotton on March 5, 2012 as it felt that there would be a shortfall of cotton supply for domestic needs if export is not restricted, which might necessitate import of cotton at higher prices.

However, the ban was partially lifted a week later on March 12, after the Agriculture Ministry as well as cotton growing states of Maharashtra and Gujarat strongly objected to the decision.

During the initial five months of the cotton year which began on October 1, 2011, India exported 9.4 million bales of cotton, thus leaving about 23.3 million bales for domestic consumption for the entire season, in comparison to India's consumption of 26.8 million bales during the previous season.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: UN Department of Public Information

Textiles | On 18th Jan 2017

World economy expanded by just 2.2% in 2016: UN

The world economy expanded by just 2.2 per cent in 2016, the slowest...

Textiles | On 18th Jan 2017

Schoeller unveils water-repelling fabric ‘bling’

Schoeller textiles, Swiss textile company, has released its new...

Textiles | On 18th Jan 2017

China lays out plan to boost foreign investment

The Government of China has outlined measures to boost foreign...

Interviews View All

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Eric Scholler
Groz-Beckert

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

Marcel Alberts
Eurofibers

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

Bani Batra

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Igor Chapurin
Chapurin

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

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search