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Mahesh

23/05/22 14:38 PM IST

Cotton Council of India

In News 
  • The Union Government has announced the formation of the Cotton Council of India under the Chairmanship of renowned veteran cotton man Suresh Bhai Kotak.
Cotton Council of India 
  • Objective - to resolve the issues related to cotton & yarn pricing and bring substantial improvements in the sector.
  • The first meeting of the proposed council has been scheduled for 28th of this month.
  • The council will discuss, deliberate, and prepare a robust action plan for bringing out a tangible improvement in this field.
Cotton Export
  • In 2021-22, the Cotton textile exports, including raw cotton were USD15.29 billion.
  • The cotton prices increased by more than 100% during the last one and half years.
  • One of the major reasons for an increase in cotton prices is unchecked exports.
  • More than 60% of cotton and cotton yarn are exported to countries like Bangladesh and Vietnam, which are competitors for India in the textiles sector.
Source- PIB 

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