India dreams of capturing 8-9 per cent of the total global trade by 2020, however looking at the present scenario, it may capture a share of only 5-6 per cent by 2020.
Browsing: cotton yarn
After registering a decline of about 9 per cent in cotton season (CS) 2018-19, India’s cotton production is likely to witness a double-digit growth of about 16 per cent in CS 2019-20 with production at 6.6 billion kg during the year on back of favourable monsoon as well as increased MSP that led to increased cotton crop sowing. For CS20, the acreage under cotton is estimated to have marginally increased by about 1.3 per cent to 12.8 million hectares.
Indian textiles and clothing industry, the second largest employment provider (around 11 crore people) next only to agriculture was the second largest exporter in the world during 2017, now it has slipped to 5th position due to global recession especially in the aftermath of US-China trade war and the tariff concessions extended for the competing Nations like Vietnam, Bangladesh, Pakistan, etc.
In the recent times cotton prices in the entire major cotton-producing countries have been falling posing problems to the farm community. More than that, the production estimates have also been steadily declining, causing worries to the cotton community.
World cotton production is projected to be lower than its consumption for the fourth year in row. This has marginally supported the cotton prices in CS19 despite the subdued demand.
Dr KV Srinivasan, Chairman, Texprocil stated that exports cotton yarn from India in the first quarter of April-June 2019 have fallen by a steep 33 per cent.
Dr KV Srinivasan, Chairman, Texprocil stated that exports of cotton yarn from India in the first quarter of April-June 2019 have fallen by a steep 33 per cent. From 338 million kg for the period April-June 2018 to 226 mn kg in April-June’19.