Union Minister of Textiles and Commerce has announced the formation of a Cotton Council of India, under the chairmanship of Suresh Bhai Kotak, a renowned veteran cotton man, with representation from the ministries of Textiles, Agriculture, Finance and, Commerce and Industry and the Cotton Corporation of India and the Cotton Research Institute.
The first meeting of the council has been scheduled for 28 May. It will discuss, deliberate and prepare a robust action plan for bringing out a tangible improvement in this field.The announcement came during Piyush Goyal’s meeting with stakeholders from the cotton value chain held yesterday.
The minister emphasised the need for making available better quality seeds to improve the productivity of cotton farmers. He gave a clear and loud message to all stakeholders to resolve the cotton and yarn price issue in the spirit of collaboration rather than competition and super profiteering without pushing the government to intervene as it may have long-term impact on the cotton value chain.
He also appealed to the spinning and trading community to ensure a hassle-free supply of cotton and yarn first to the domestic industry and suggested that 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.