Shri Jaipuria stated that the urgent measure required from the government to remedy the impending cotton crisis is to announce the suspension of cotton exports for a period of three months and to review the situation in early February 2010, when the cotton situation will be clearer.
Shri Jaipuria requested the immediate intervention of the Minister of Textiles and the Minister of Commerce and Industry to prevent cotton exports and speculation by international cotton traders at the current crucial juncture when the potential recovery in the textiles and clothing sector is being threatened by the price spiral in domestic cotton.
Confederation of Indian Textile Industry (CITI)
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