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India does a U turn, revokes ban on cotton exports
30
Apr '12
The Informal Group of Ministers met under the chairmanship of Shri Pranab Mukherji reviewed the cotton export situation. The meeting was attended by Agriculture Minister, Shri Sharad Pawar, Commerce and Textile Minister, Shri Anand Sharma and Chairman of the Prime Minister's Economic Advisory Council Dr. C. Rangarajan.

The Informal Group of Ministers considered the estimates of the cotton advisory board and the 3rd estimates of the Ministry of Agriculture. After a comprehensive review it was decided that suspension of new registrations for cotton exports be revoked and exports be permitted.

The Cotton Corporation of India has been mandated to build a buffer stock of 10 lac bales to meet any exigency during the months of June, July and August 2012.

The Informal Group of Ministers would make an assessment of the situation in 3 weeks times.

Ministry of Textiles

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