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Mumbai – Ruling out chances of ban on cotton exports, Textile Minister Dayanidhi Maran said, there is a need of some kind of check on cotton prices. He was speaking to scribes after releasing a booklet on the achievements of the textile sector during the one year of the UPA-II government.
Maran said, he would press the Finance Ministry for an increase in export duty to check prices. “No, we are not for a ban. But we need some kind of calibration in exports (cotton)," Maran told reporters.
The textile minister further added, “At present cotton stocks are only 34 lakh bales, equivalent to one and a half months' requirement of the textile industry, which is a tight situation for a country like India.” New arrivals will start from September.
In view of the increasing prices of cotton in the domestic market, the government had imposed a number of restrictions on cotton exports, including levy of duty and compulsory registration of shipments.
He dismissed the restrictions were anti-farmers and said that most of the stock was lying with the traders who were “lobbying” against the move.
Pakistan authorities had written to the Indian government seeking removal of the curbs on cotton shipments to the neighbouring country.
09 June, 2010 by admin