Garment exporters fear losing premium market
February 07, 2021
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Duty on cotton hiked from nil to 10% and on raw silk, silk yarn from 10% to 15% The Budget’s announcement on increasing customs duty on cotton may cast a shadow on India’s advantage in premium/ high-end garment exports to the world, according to cotton stakeholders.
This, according to the trade sources, is primarily due to the additional cost for imported cotton mainly the extra-long-staple (ELS) used in making high-value-added textiles and garments, which are exported globally under premium labels. ELS quality of Giza Cotton is imported from Egypt, while Pima Cotton is sourced from the US. The cotton stakeholders also expressed concerns about losing international market, especially US and Europe, to neighbouring competitors Bangladesh and Pakistan as well as Vietnam.
January 31, 2021
Bt cotton is the only GM crop approved for commercial cultivation in India and cultivation of other unapproved GM crops is banned
Bt cotton is the only GM crop approved for commercial cultivation in India and cultivation of other unapproved GM crops is banned×
- COCPC estimate is higher by 12.5 lakh bales over trade projections In a contrast to the crop estimates suggested by the cotton trade bodies, the Union Ministry of Textiles’ Committee on Cotton Production and Consumption (COCPC) has projected a higher crop at 371 lakh bales (each of 170 kg) for the year 2020-21. Cotton trade had estimated the crop size at 358.50 lakh bales.
Cotton association calls for fibre policy
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The Indian Cotton Federation has appealed to the government to announce a National Fibre Policy soon.
J. Thulasidharan, president of the Federation, said at its annual meeting held virtually on Sunday that this will be one of the demands that it will pursue with the government. Further, the Central government should establish a Cotton Board of India, similar to Coffee Board and Jute Board. It should also have a time-bound plan to implement the mini missions of the second phase of Technology Mission on Cotton (TMC).
Mr. Thulasidharan also pointed out the need for free flow of finance to the cotton and textile sector. He said that all financial controls should be eased to encourage investment and the government should immediately address the challenges that entrepreneurs face to get finance. Financial institutions, including those in the co-operative sector, need to be revamped to meet the current d