Home / Knowledge / News / Textiles / Global textile bodies exhort India to lift cotton export restrictions
Global textile bodies exhort India to lift cotton export restrictions
24
Nov '10
Trade unions and associations from the textile sector of 10 developing nations located in the Western Hemisphere have jointly written a letter asking their governments to take the necessary measures to stop the prohibitions imposed on cotton trade by the Indian Government. These trade unions stand for over 2.5 million textile as well as garment workers.

These trade unions have joined the league of the trade associations from four other nations and regions that had appealed to their respective governments to take similar measures towards the end of October. Together the groups stand for about four million textile as well as garment workers, who had generated $110 billion in textile and garment exports in 2008.

According to the letter, the cotton prices have increased by several folds, from 62 cents per pound to $1.40 per pound, since April 2010 when India had imposed the restrictions on cotton trade. The prohibitions imposed by India defy Articles III, VIII and XI of the General Agreement on Tariffs and Trade and because of this the mills in India are getting a subsidy of 16 cents per pound.

The discrepancy that has emerged in the global cotton trade has enabled India to seize larger market shares in textiles as well as garments, particularly when the global cotton supply has declined. As per the analysis of India's cotton production as well as consumption statistics, India has held back 1.5-3.5 million cotton bales from its export market so that it can promote its local industry.

This has caused the shortage of raw materials, particularly cotton and has also severely affected the textile and garment manufacturers of the countries in Western Hemisphere against the state-owned textile units of China which have the benefit of government funding. Chinese textile units are purchasing the cotton which is available in the market at exorbitant prices so that they can also acquire larger shares in the global market.

The imposition of restrictions by India on cotton trade has manipulated the prices of cotton, which has benefited its domestic textile sector but has also led to sharp increase in the cost of the textile and garment units of these nations from Western Hemisphere.


Fibre2fashion News Desk-India


Must ReadView All

Courtesy: Business wire

Textiles | On 28th Jul 2017

Taiwan launches new products at Outdoor Retailer show

The Taiwan External Trade Development Council (TAITRA) hosted the...

Textiles | On 28th Jul 2017

Clariant, Huntsman present update on planned merger

Clariant and Huntsman Corporation have presented a first update on...

Fashion | On 28th Jul 2017

Kering’s first half consolidated revenue up 28.2%

Kering has announced a consolidated revenue of €7,296.2 million for...

Interviews View All

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
61.1%
No
22.2%
Skip
16.7%

Total Votes: 18

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
33.3%
No
44.4%
Skip
22.2%

Total Votes: 18

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.3%
No
5.6%
Skip
11.1%

Total Votes: 18

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
50.0%
No
11.1%
Skip
38.9%

Total Votes: 18


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X