The Union Textile Ministry has announced unique terms and conditions for procuring fully pressed cotton bales from Cotton Corporation of India (CCI) for the benefit of MSME textile units.
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The predominantly cotton-based textile industry has become highly competent in terms of operational efficiency with the state-of-the-art technology, skilled manpower, high productivity, high quality, etc.
Cotton spinning mills in northern India are planning to shut down one day a week. According to Chandigarh-based Northern India Textile Mills´ Association (NITMA)
The predominantly cotton based textile industry has been producing almost 75 per cent of the spun yarn from cotton and therefore, this industry has been subjected to crisis due to volatility in the prices.
Justin Coates serves as the Manager of Market Analysis in the Corporate Strategy and Program Metrics Division of Cotton Incorporated.
Cotton prices in India are expected to remain subdued in the near future. Coming to the domestic scenario, prices are likely to trend in line with the international markets as domestic prices have plunged below the international levels offering no triggers for upside movement.
Cotton price is still down, and the global acreage is likely to follow suit. China´s warehoused cotton poses quality problem but in the medium-term, there could be reliefs with the demand for cotton from countries like India going up.