Interviews
Scrapping cotton import duty receives mixed reactions
15 Jul '08
4 min read
Mr Makhija further noted that the Government must ban export of cotton. According to him, since the farmers have sold their crop long back, it is the traders and hoarders who are laughing all the way to their bank by inflating cotton prices by 25 percent in just 4 months.
Only an export ban and several raids under Essential Commodities Act shall bring prices under control and push the cotton into spinning mills who can add value to the fiber. Otherwise, situation in textile industry is heading for a disaster and may even lead to a bleak future which includes large scale retrenchments.
Only an export ban and several raids under Essential Commodities Act shall bring prices under control and push the cotton into spinning mills who can add value to the fiber. Otherwise, situation in textile industry is heading for a disaster and may even lead to a bleak future which includes large scale retrenchments.
Fibre2fashion News Desk - India
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