Indian cotton body signs MoU with ICA

07 Feb '14

2 min read

The International Cotton Association (ICA) and the Cotton Association of India (CAI) have signed and exchanged a memorandum of understanding (MOU) to formally acknowledge the alliance and cooperation between the two associations.

ICA President, Mr Mohit Shah and CAI President, Mr Dhiren Sheth signed the MOU on 27 January in Mumbai during an ICA visit to India.

With the majority of the world’s raw cotton traded under ICA Bylaws & Rules and India’s market position as the world’s second largest exporter of both cotton and yarn, this alliance is a significant milestone for the trade, with both associations confident that it will benefit the entire industry.

On signing the MOU, Mr Shah said: “This is an historic moment for both the ICA and CAI. We have a long history together and this MOU will pave the way for a long and sustained relationship between these two major cotton associations of the world. I am extremely pleased with this development, as this

MOU signals a long term commitment between the ICA and CAI to work together.” Mr Sheth added: “I am extremely happy, because this is indeed a historic development. The CAI has always recognised the ICA to be the mother association and this MOU has laid the foundation for the future.

I personally want to thank Mr Mohit Shah. He not only initiated this process, but pursued it relentlessly over many months, long before he became President of the ICA. There is great potential for cooperation in many spheres.”

ICA

More The International Cotton Association News... More Textiles News - India...