The Noida Apparel Export Cluster has urged to ban the export of raw cotton and yarns so as to facilitate more availability of the raw material for the domestic apparels industry.
The Noida Apparel Export Clusters (NAEC) has solicited a complete ban on export of raw Indian cotton and yarns so that production in the domestic apparel industry can be increased. This way finished products may be exported internationally to fetch more revenue.
The exporters have also said that a ban on export of cotton and yarn will ensure more availability of raw material for the apparel industry, which has been suffering for the past six months due to Covid 19 induced slowdown, and enable it to compete in the global export market. Lalit Thukral, President of NAEC said situation for readymade garments industry has worsened due to pandemic. The garments production was halted for four months between March and June 2020.
Present Scenario of cotton Exports of India:
India is one of the largest exporters of Cotton in the world. Recently India exported 21 lakh bales of cotton to China out of total cotton exports of 58.43 lakh bales. Major importers of Indian Cotton include China, Bangladesh, Pakistan, Vietnam and Indonesia. Due to all these exports, fewer raw materials are available for the apparel industry of our country.
A few days ago, Cotton Textiles Export Promotion Council appealed to the Union Textile Minister Piyush Goyal to remove the Customs Duty on cotton.
Ministry of Textiles has undertaken special measures in COVID crisis to support liquidity flow to the textile industry including cotton textile sector by introducing part subsidy against Bank Guarantee (BG) in facilitating the subsidy release process, earlier this year.
Rising prices of raw materials and packaging items have hit the garment industry in Noida.
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