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Mr Maran against subsidies on raw cotton export
15
Oct '09
Batting for the textile sector, the Union Textiles Minister, Mr Dayanidhi Maran, urged the Prime Minister to not provide incentives for exports of raw cotton from the country.

He said, providing incentives to exporters of raw cotton would only work against the interests of the sector, as it would make them un-competitive in global markets.

The interests of the cotton growers had already been looked into, as the Minimum Support Price (MSP) had been increased by 25-40 percent, last year.

Providing subsidy on export on exports of raw cotton was akin to subsidizing textile sectors of other countries, at the cost of the industry in India.

Giving an example, he said, last year the cost of cotton for Indian cotton was lesser for those countries who had imported it, than for Indian manufacturers.

The incentive has come for review again at the commerce ministry, as the subsidy was implemented for a period of one year, in 2008.

He said resurgence was beginning to show in the sector since the last four months and an extension of the subsidy would prove detrimental for the industry at large.

Fibre2fashion News Desk - India

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