The cancelling of orders by international buyers due to cotton shortage is having a severe impact on the Indian textile mills, says Ravi Sam, Chairman, Southern Mills India Association (SIMA). He urged the government to remove import duties on cotton with immediate effect.
Immediate removal of the import duty will boost imports in May leading to huge profits for Indian farmers and enable them to begin sowing for the next season, adds Sam.
The propagation of international traders for the removal of import duty will affect farmers badly but, non-removal will lead to a doom of the textile industry, he adds. Only en-users should be allowed to import cotton and not the international traders who try and hold them creating a further crisis for the Industry, states Sam.
Post time: Mar-10-2022