India Textile Ministry Strives To Raise Export Tariffs On Cotton
India textile ministry supports improvement
cotton
Export tariffs curb cotton prices.
On Wednesday, India textile minister Mullen (Dayanidhi Maran) said that if the total ban on cotton exports was ruled out, the Ministry of textiles would ask the Ministry of finance to raise tariffs on cotton exports, with the current tariff of 2500 rupees / ton.
Mullen said that the purpose is not to prohibit exports, but to make some regulations and standards for exports.
The past year
cotton
The price is up 20-25%.
Current
cotton
The inventory is 3 million 400 thousand packs, equivalent to about 45 days of cotton demand in the textile industry, and new cotton will enter the market in September.
Even though the eurozone crisis remains a matter of concern, the government still expects textile exports to grow by 30% in the current fiscal year.
After consultation with the industry, the Ministry of textile industry formulated this year's export target of US $25 billion, up from 19 billion US dollars in 2009-10 years.
As part of the future agenda, in addition to diversifying products and expanding the market through new domestic centres and major global markets, the Ministry of textiles will also create a system for modernization and integration of the power loom industry.
The government will speed up the evacuation of existing textile clusters, promote the construction of infrastructure in rural hinterland, and use the advantages of rural human resources to evacuate existing clusters.
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