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Regulate raw cotton exports for sustaining value added exports: FIEO
02
Dec '09
Mr A Sakthivel, President, Federation of Indian Export Organisations(FIEO) has approached Commerce Ministry and Ministry of Textiles calling for immediate ban on export of raw cotton or putting a limited ceiling of 4 lakh bales per month with an annual ceiling of 50 lakh bales for exports. The demand has gained further grounds in view of steep hike in prices of cotton yarn by about 20% in last two months from Rs. 13 per Kg to Rs.16 per Kg.

Mr A Sakthivel added that since Indian exporters could not be able to absorb the cost nor would be able to pass on the same to buyers, they may default in executing exports orders already obtained. Such a move will prompt foreign buyers to shift their procurement base out of India to countries such as Bangladesh, Sri Lanka, China, Vietnam, Turkey etc.

FIEO Chief feared that this may lead to massive job losses on unprecedented scale in all segment of exports starting from fabrics to made-ups and garments.

Federation of Indian Export Organisations

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