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Govt to textile industry: Resolve cotton prices issue

Nov 22, 2021
Govt to textile industry: Resolve cotton prices issue

New Delhi

Piyush Goyal, Union Minister of Textiles, Commerce & Industry, Consumer Affairs and Food & Public Distribution, askedtextile industry players in a meeting to resolve cotton pricing issue in the spirit of collaboration.

He asked the Textile Industry leaders not to push Government to intervene. The Minister further stated that manufacturing sectors should not depend on Government support for growth. Too much dependence of State support is not healthy for the robust growth of the sector.

He said that farmer’s interests are being taken care off for the first time as they are now getting better cotton prices supported by very good base MSP. Pricing issue of cotton bales and yarn for the industry should not be allowed in any way to impact the better prices which farmers are getting, he added.

Goyal said that idea of short term Super normal profits by a section of players in Textile value chain is not sustainable. Whole value chain gets adversely impacted even if one section gets weak. AatmaNirbhar Bharat applies to everyone in value chain. All must get benefitted and all must grow. He said that, Cotton bale and yarn prices need to be such that all get benefitted. He exhorted that all stake holders in Textile Value chain need to support each other for long term sustainable growth.

The Minister cautioned the cotton bale traders from manipulation of prices or do any hoarding to make unfair profits. He added that reasonable profits are good and acceptable but undue advantage cannot be allowed to be taken by any one value chain. He also said that no one would be allowed to come in the way of better cotton prices to farmers.

Source: Zee Business

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