The largest producer of cotton in the world finds that its exportable goods are becoming uncompetitive in the face of the raw materials in India available for the manufacturing of these goods turning out to be costly.
Currently, the raw materials are available at marginally higher prices in local markets than the prevailing prices in the international markets.
Hence, the textile industry has urged the government to make cotton available for textile mills at prices cheaper than the prevailing prices in the international markets.
R K Dlamia, Chairman, Texprocil said that cotton price works out costlier from local sources resulting into its rising imports, despite around 35 million bales of domestic output
Apart from that, Dalmia requested eariest implementation of Goods and Services Tax and rethink on the Free Trade Agreements (FTAs) with major consuming countries like Canada.
The Cotton Textiles Export Promotion Council, popularly known as TEXPROCIL has been the international face of cotton textiles from India facilitating exports worldwide. Texprocil has a membership of around 3,000 companies spread across major textile clusters in India. Its members are well established manufacturers and exporters of cotton textile products like Cotton, Yarns, Fabrics and Home Textiles, showcasing a dazzling array of products across the value chain.
India's textiles exports are likely to decline marginally to $40 billion this year as against $41.4 billion last year.
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