Stating that cotton ginners in the country each year spend about Rs. 480 billion for buying and ginning cotton during the first 16 weeks of cotton arrival, Indian Cotton Federation (ICF) President J Thulasidharan has called for facilitating funds to these ginners at concessional rates.
Stating that cotton ginners in the country each year spend about Rs. 480 billion for buying and ginning cotton during the first 16 weeks of cotton #
Responding to the call made during a conference on cotton, V Srinivas, Joint Secretary, Textile Ministry, directed to formulate a draft proposal in this regard, so that he can table the same before the Finance Ministry for necessary action.
Stating that cotton ginners in the country each year spend about Rs. 480 billion for buying and ginning cotton during the first 16 weeks of cotton #
Highlighting the need for in-time compilation of data on cotton crop, the Textile Ministry official said the Cotton Distribution (Collection of Statistics) Bill 2012 has already been formulated to facilitate a system for enhanced data transparency and ensure availability of accurate data for policy making.
Stating that cotton ginners in the country each year spend about Rs. 480 billion for buying and ginning cotton during the first 16 weeks of cotton #
He said they intend to introduce the legislation in the coming months, to bestow the country with a data collection system that would significantly strengthen its databases.
Stating that cotton ginners in the country each year spend about Rs. 480 billion for buying and ginning cotton during the first 16 weeks of cotton #
Further, he also assured ICF that all required action would be initiated in lines with their request for branding Indian cotton through Textile Export and Promotion Council, mainly in view of the fact that India exports about 12.7 million bales of cotton to world markets.
Stating that cotton ginners in the country each year spend about Rs. 480 billion for buying and ginning cotton during the first 16 weeks of cotton #
India’s innate strength in cotton yarn needs to be boosted through fabric manufacturing and processing, he noted.
Stating that cotton ginners in the country each year spend about Rs. 480 billion for buying and ginning cotton during the first 16 weeks of cotton #
Meanwhile, on the Confederation of Indian Textile Industry (CITI)’s SV Arumugam’s request for waiving the one percent Market Committee Cess, G Santhanam, Secretary, Textile and Handloom, Tamil Nadu Government gave an assurance to take up the issue with the state Chief Minister.
Stating that cotton ginners in the country each year spend about Rs. 480 billion for buying and ginning cotton during the first 16 weeks of cotton #
Mr. Arumugam also called on the Tamil Nadu government to slash sales tax on cotton yarn from the existing five percent to two percent, as it would help the state’s industry to better compete with other states like Kerala, Andhra Pradesh and Karnataka, which levy only two percent tax.
Stating that cotton ginners in the country each year spend about Rs. 480 billion for buying and ginning cotton during the first 16 weeks of cotton #
Fibre2fashion News Desk - India