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CCI opened over 450 procurement centres across India in current season

26
Jul '21
Pic: Shutterstock
Pic: Shutterstock
During current cotton season 2020-21 (Oct 1, 2020 to Sept 30, 2021), Cotton Corporation of India (CCI) has opened over 450 procurement centres in all cotton growing states across the country. The corporation has procured 91.89 lakh bales so far (equivalent to around 482 lakh quintals kapas) and disbursed ₹26,700 crores to around 19 lakh cotton farmers.

CCI continued its procurement of cotton under MSP operations since the beginning of the current season to avoid the eventuality of distress sale by farmers, minister of state for textiles Darshana Jardosh said in a written reply to Lok Sabha.

In cotton season 2019-20, CCI had opened 423 procurement centres in 12 cotton growing states to safeguard the cotton farmers from distress sales. During the pandemic, CCI procured 20.72 lakh bales valuing ₹5,615 crore from 4 lakh cotton farmers. However, during the entire cotton season 2019-20, CCI made a record procurement of 105.15 lakh bales (equivalent to around 546.80 lakh quintals kapas) and an amount of ₹28,500 crores was disbursed to around 21.50 lakh cotton farmers directly into their bank accounts.

To achieve the desired success in the Scheme for Integrated Textile Park (SITP), government of India provides financial assistance to a group of entrepreneurs to establish state-of-the-art infrastructure facilities in a cluster for setting up their textile units, conforming to international environmental and social standards and thereby mobilise private investment in the textile sector and generate fresh employment opportunities.

Under SITP, industry associations, group of entrepreneurs and agencies of the state governments are main promoters of the Integrated Textile Parks (ITPs). Special Purpose Vehicles (SPVs) are formed by the representatives of the local industry, financial institutions, state industrial and infrastructural corporations, and other agencies of state and central governments. The SPVs shall invariably be a corporate body registered under the Companies Act. The textile parks under various stages of implementations are reviewed by the PAC time to time.

Fibre2Fashion News Desk (KD)


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