Piyush Goyal meets stakeholders in the cotton value chain, announces formation of Cotton Council of India
Suresh Bhai Kotak to be the first Chairperson of Cotton Council of India
Council to have representation from Ministry of Textiles, Agriculture,
Commerce, Finance, Commerce and Industry, Cotton Corporation of India and
Cotton Research Institute
The 1st meeting of proposed Council on 28th May 2022 to discuss, deliberate and
prepare a robust action plan for bringing out a tangible improvement in this
field
Piyush Goyal calls upon spinning and trading community to ensure
hassle free supply of cotton and yarn first to the domestic industry ; Appeals
to divert only surplus cotton and yard for exports
Emphasises the need of holding hands of cotton farmers besides extending all possible
support to stakeholders engaged in backward and forward integration
Government to actively consider the demand of the spinning sector for
exemption from import duty on those import contracts in which bills of lading
is issued upto 30th September 2022: Goyal
Goyal exhorts all stakeholders to resolve cotton and yarn price issue, in the
spirit of collaboration rather than competition and super profiteering
Piyush Goyal, Union Minister of Textiles,
Commerce & Industry and Consumer Affairs, Food & Public
Distribution has announced formation of Cotton Council of India, under
Chairmanship of 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 proposed council has
been scheduled on 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 cotton value chain, held under the Chairmanship of 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 urgent
basis, to address 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 largest area under
cotton cultivation. The minister emphasized upon the need for making available
better quality of seeds to improve productivity of cotton farmers.
Addressing the meeting, Goyal gave a clear and loud
message to all stakeholders to resolve cotton and yarn price issue, in the
spirit of collaboration rather than competition and super profiteering, without
pushing government to intervene as it may have long term impact on cotton
value chain.
He also emphasised the need of holding hands of
cotton farmers who is the weakest part of cotton value chain, besides extending
all possible support to stakeholders engaged in the backward and forward
integration through out of box thinking at this critical juncture.
Pointing out that government is committed to
protect 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
is issued upto 30th September 2022 to overcome current cotton shortage and
logistic issues.
Goyal also appealed to the spinning and trading
community to ensure hassle free supply of cotton and yarn first to the domestic
industry and only surplus cotton and yarn should be diverted for exports. He
cautioned that export should not be at the cost of domestic industry which is
the largest generator of employment in the country.