India heavily relies on imports for ELS cotton, which has fibre lengths exceeding 35 mm and is widely used in the production of premium-quality fabrics.
Nirmala Sitharaman, Finance Minister, while presenting the Union Budget on Saturday, announced a five-year mission aimed at enhancing cotton production, with a particular focus on extra-long staple (ELS) cotton. India heavily relies on imports for ELS cotton, which has fibre lengths exceeding 35 mm and is widely used in the production of premium-quality fabrics.
“The best of science and technology support will be provided to farmers. This initiative will help boost farmers’ incomes and ensure a steady supply of high-quality cotton, contributing to the revival of India’s traditional textile sector,†Sitharaman stated.
In a report published last September, the World Bank highlighted a decline in India’s share of global exports in labour-intensive industries such as apparel, leather, textiles, and footwear. Meanwhile, countries like Bangladesh, Vietnam, Poland, Germany, and France have expanded their export presence in key job-generating sectors by up to 2 per cent between 2015 and 2022. India’s textile and garment exports have stagnated at approximately $35 billion, while Vietnam and Bangladesh have gained market share, benefiting from free trade agreements (FTAs) and Least Developed Country (LDC) status, which grant them a 10-15 per cent duty concession in Western markets.
News source: The Indian Express