May 17:Shri Piyush Goyal, Union Minister of Textiles, Commerce & Industry and Consumer Affairs, Food & Public Distribution has announced the formation of the Cotton Council of India, under the Chairmanship of Shri Suresh Bhai Kotak, a renowned veteran cotton man, with representation from Ministry of Textiles, Ministry of Agriculture, Ministry of Commerce, Ministry of Finance, Commerce and Industry, Cotton Corporation of India and Cotton Research Institute. The first meeting of the proposed council has been scheduled for 28th May 2022. The council will discuss, deliberate, and prepare a robust action plan for bringing out a tangible improvement in this field.
The announcement came during a meeting with stakeholders from the cotton value chain, held under the Chairmanship of Shri Piyush Goyal yesterday wherein Minister of State for Textiles Smt. Darshna Jardosh, Secretary Textiles, and Secretary Agriculture were also present.
In the meeting, a cross-section of views and suggestions were deliberated for softening cotton and yard prices on an urgent basis, to address the unprecedented price rise witnessed in the current season. It was pointed out that cotton productivity is the biggest challenge in the country, resulting thereby 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.
Addressing the meeting, Shri Goyal gave a clear and loud message to all stakeholders to resolve the cotton and yarn price issue, in the spirit of collaboration rather than competition and super profiteering, without pushing the government to intervene as it may have a long term impact on the cotton value chain.
He also emphasized the need of holding the hands of cotton farmers who are the weakest part of the cotton value chain, besides extending all possible support to stakeholders engaged in the backward and forward integration throughout box thinking of this critical juncture.
Pointing out that the government is committed to protecting 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 lading are issued up to 30th September 2022 to overcome the current cotton shortage and logistic issues.
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