India: Cotton stakeholders to keep watch on Govt meeting outcome

0
84

Indian cotton growers and the cotton consuming textile industry will be keenly awaiting the decision of a meeting to be held today evening in New Delhi – India.

The others who will also keep an eye on developments on the Indian cotton export front will also include major cotton importers like China and Bangladesh.

The Prime Minister of India – Dr Manmohan Singh has convened today a meeting of the Finance Minister, Commerce Minister and the Agriculture Minister, to thrash out a solution to the vexed issue of cotton exports.

Mr Pawar had fired a salvo earlier this month when he wrote a letter to the Prime Minister discussing the demerits of imposing a ban on cotton exports.

The Commerce Ministry while imposing the ban on March 5 had said that cotton stocks were depleting and continuation of exports would require Indian textile industry to import cotton in the near future.

While the Agriculture Minister – Mr Sharad Pawar is in favour of lifting the ban completely, the Commerce cum Textiles Minister – Mr Anand Sharma, could favour exports of a few million bales.

Mr Sharma had indicated on Sunday that a decision which will take the interests of all stake holders into consideration will be taken.

Source: http://www.fibre2fashion.com/news/textile-news/newsdetails.aspx?news_id=110597

LEAVE A REPLY