Wednesday, June 29th, 2022 15:59:10

Centre announces formation of Cotton Council of India under Chairmanship of Suresh Bhai Kotak

Updated: May 18, 2022 5:01 pm

The Union Government has announced the formation of the Cotton Council of India under the Chairmanship of renowned veteran cotton man Suresh Bhai Kotak. It will have representation from Textiles, Agriculture, Commerce, and Finance Ministries along with Cotton Corporation of India and Cotton Research Institute. The first meeting of the proposed council has been scheduled for 28th of this month. The council will discuss, deliberate, and prepare a robust action plan for bringing out a tangible improvement in this field. The announcement came yesterday during a meeting with stakeholders from the cotton value chain, held under the Chairmanship of Union Textiles Minister Piyush Goyal.

In this meeting, a cross-section of views and suggestions were deliberated for softening cotton and yarn prices on an urgent basis to address unprecedented price rise witnessed in the current season. It was pointed out that cotton productivity is the biggest challenge in the country, resulting in less cotton production despite the largest area under cotton cultivation. The Minister emphasized the need for making available better quality seeds to improve the productivity of cotton farmers. Mr. Goyal also gave a clear message to all stakeholders to resolve the cotton and yarn price issue. He emphasized the need of holding hands of cotton farmers who are the weakest part of the cotton value chain besides extending all possible support to stakeholders.

Pointing out that government is committed to protect the interests of cotton farmers, spinners, and weavers, the Minister assured to actively consider the demand of the spinning sector for exemption from import duty on those import contracts in which bills of loading is issued up to 30th of September of this year to overcome current cotton shortage and logistic issues. Mr. Goyal also appealed to the spinning and trading community to ensure hassle-free supply of cotton and yarn first to the domestic industry.

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