INDIA: Cotton exports have created artificial shortage

India  : The export of 5.5 million bales of cotton from India during the early part of this cotton year has created an artificial cotton shortage in India, said Mr. Shishir Jaipuria, Chairman of the Confederation of Indian Textile Industry (CITI). 

In the statement released by CITI on May 31st, it has been reported that cotton textile spinning mills have decided to continue with the voluntarily production slash of 33-40% from tomorrow (1st June, 2011) until the stock situation improves. 

The recent one day strike by Indian spinning mills on Monday, 23rd May and the subsequent production reduction has resulted in a loss of Rs. 600 crore. 

Mr. Jaipuria stated, the CITI has requested no further export of cotton until the arrival of next year’s crop. 

CITI has demanded urgent steps from the Government of India to address the crisis situation facing the spinning mills and the entire textile value-chain. 

However, the fate the cotton exports is likely to be decided on June 2nd , when the Group of Ministers from the Ministries of Finance, Agriculture, Textiles and Commerce are expected to convene, according to a recent report in The Hindu. 

Send your News/Releases for publication to [email protected]
Added: June 2, 2011 Source: YNFX
Start script - 1553096622.1193 Start news id check - 1553096622.1194 After news id check - 1553096622.1197 After cookie_code - 1553096623.8195 Before news detail - 1553096623.8195 After news detail - 1553096623.82 Start cat select - 1553096623.8201 After cat select - 1553096623.8203 before preg replace - 1553096623.8204 After preg replace - 1553096623.8204 Before tag engine - 1553096623.8204 After tag engine - 1553096623.8254 Before mptt engine - 1553096623.8254 After mptt engine - 1553096623.8254 Before related engine - 1553096623.8254 After related engine - 1553096623.8279 Before update hits - 1553096623.828 After update hits - 1553096623.8282 After update news_hits - 1553096623.8531 After mem_only_views - 1553096623.8531 -------------------------------------------------- Total Exec time:- 1.7339000701904
AddThis Social Bookmark Button   Tell a friendBookmark AddThis Feed Button
Related News:

Website design by InWiz • © - 2000-2019. Internet Wizards All rights reserved. About usTerms & ConditionsDisclaimerPrivacy policy • 20-03-2019