Cotton exports from the country are likely to miss the target this season as production has been hit by unseasonal rains in Gujarat and Maharashtra and floods in Andhra Pradesh, according to a senior official of the Union ministry of textiles.
“We (ministry of textiles) are of the opinion that cotton exports before the December 15 deadline for closing exports are expected to touch just 2.5 million bales (170 kg per bale) as compared with the permitted 5.5 million bales,” said V Srinivas, joint secretary (cotton).
Speaking to mediapersons during a road show here, he said, “It looks like it (exports) will be around 2.5 million bales. However, trade bodies say it will be 2 million bales, which looks reasonable,” he said.
He said that the ministry had set a maximum limit of 5.5 million bales for exports, assuming it to be a bumper harvest. “Shortage of cotton products both in domestic and international markets pushed up prices.”
Union minister of state for textiles Panabaka Lakshmi said the Centre had sanctioned 40 integrated textile parks across the country, of which 25 were operational.
“The central government has committed Rs 1,400 crore, as against a projected investment of approximately Rs 20,000 crore towards development of these textile parks. The remaining parks will go on stream next year,” she added.
Source: http://www.business-standard.com/india/news/cotton-exports-may-miss-target/416442/
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