SIMA has demanded removing of 10% obligation on import of cotton as the selling prices in the domestic marketplaces improved six% in July.
“The downstream exporting sectors, garments and manufactured-ups segments, are discovering it tricky to fulfill their export commitments because of to the disruptions triggered by lockdowns, scarcity of staff and large logistics expenses. In this scenario, the steep increase in Indian cotton selling prices has further more destabilized the Business and is generating our exporters uncompetitive. The recent hike in cost of Rs.3800/- for each sweet (355 kgs) of cotton in a span of 15 days by Cotton Corporation of India (CCI) and the 10% import obligation levied in the Union Spending plan 2021-22 on cotton has enabled the trade to increase