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Trade bodies urge to reconsider textile policy
16 Feb '07
1 min read
In order to increase competitiveness of textile industry, trade bodies have requested Government to bring important changes in textile policy.
As cotton production was under agriculture ministry and exports were controlled by commerce ministry, trade bodies stressed on bringing textile related activities under one ministry including allocation of relief packages.
Previously, decisions related to textile exporters were directly taken by commerce ministry, resulting in immediate decision making.
At present, textile ministry had to refer demands of textile exporters to commerce ministry and they forward it to prime minister who then asks finance minister to take the decision.
According to sources, cotton production of India reached 27 million bales in 2006 compared to 14 million bales in 2000.
However, domestic cotton production has increased from 10 million to 12.5 million bales in same period.
Experts are of the opinion that Bt cotton should be adopted by domestic industry to cater the increasing demand and reduce imports.
As cotton production was under agriculture ministry and exports were controlled by commerce ministry, trade bodies stressed on bringing textile related activities under one ministry including allocation of relief packages.
Previously, decisions related to textile exporters were directly taken by commerce ministry, resulting in immediate decision making.
At present, textile ministry had to refer demands of textile exporters to commerce ministry and they forward it to prime minister who then asks finance minister to take the decision.
According to sources, cotton production of India reached 27 million bales in 2006 compared to 14 million bales in 2000.
However, domestic cotton production has increased from 10 million to 12.5 million bales in same period.
Experts are of the opinion that Bt cotton should be adopted by domestic industry to cater the increasing demand and reduce imports.
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