business-northeast-logo

Traders should prioritize cotton & yarn supply to domestic industry: Goyal

BNE ADMIN


Spread the love

Guwahati: Piyush Goyal, Union Minister of Textiles, Commerce, and Sector, has urged the spinning and trading community to prioritize the supply of cotton and yarn to the domestic industry and divert only surplus cotton and yarn for exports.

He warned that exports should not come at the expense of local industry, which is the country's greatest employer.

He stated this during a meeting with cotton value chain players yesterday when he announced the creation of the Cotton Council of India, chaired by Suresh Bhai Kotak, a known senior cotton man, and with representation from the Ministries of Textiles, Agriculture, Commerce, Finance, Commerce and Industry, Cotton Corporation of India, and Cotton Research Institute.

The inaugural meeting of the proposed council is set for May 28. The council will deliberate, discuss, and establish a strong action plan to bring about actual improvements in this subject.

A variety of perspectives and solutions were discussed during the conference in order to address the significant price spike seen this season.

Cotton productivity has been identified as the country's most significant difficulty, resulting in lower cotton production despite the country's greatest cotton-growing area. The minister underlined the need of making better quality seeds available to cotton growers in order to increase yield.

BNE ADMIN