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NITMA hails govt's decision on banning cotton exports

07
Mar '12
Shri K.K. Agarwal, President, Northern India Textile Mills Association, New Delhi (NITMA) welcomed the prohibition of cotton exports with immediate effect and also exports of cotton for which RCs have already been issued, will not be allowed to exports. NITMA President K K Agarwal in a press statement thanked Commerce, Industry and Textile Minister Anand Sharma for banning export of cotton.

He said that India had already exported 9.4 million bales, higher than government estimates made in January of 8.4 million bales of 170 kilograms each for the year, on strong demand from China & storage of Cotton by International traders out of India.

Over 80% of exports so far have headed to China, which is building up reserves for supplying to its local industry. He was of the view that that this step of the Government, would help to maintain sufficient stock within the country for smooth running of the spinning mills otherwise the Indian spinners may have to import the same cotton which we are exporting today that too at much higher price.

Northern India Textile Mills Association


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