India’s textiles and apparel exports dropped by nearly ₹8,000 crore to ₹2,30,056 crore in fiscal 2017-18 from ₹2,37,922 crore in 2016-17 due to competition from countries like Bangladesh and Sri Lanka that enjoy preferential duty access in key markets, Indian minister of state for textiles Ajay Tamta recently told parliament in a written reply.
During the current cotton season—October 2017 to September 2018—shipments of cotton from India are likely to touch 70 lakh bales, registering a 20 per cent rise over the previous season, a news agency report quoted the junior minister as saying in the parliament.India's textiles and apparel exports dropped by nearly ₹8,000 crore to ₹2,30,056 crore in fiscal 2017-18 from ₹2,37,922 crore in 2016-17 due to competition from countries like Bangladesh and Sri Lanka that enjoy preferential duty access in key markets, Indian minister of state for textiles Ajay Tamta recently told parliament in a written reply.#
While 51.2 lakh bales have been exported up to April 30 this year, no target has been set for cotton exports, he said.
There is no proposal to frame a separate policy for export of cotton, as its shipments are dependent on various factors, including demand and supply conditions and the ruling domestic prices vis-a-vis international prices. (DS)
Fibre2Fashion News Desk – India