SME Times News Bureau | 13 Dec, 2012
India is the world's 2nd largest cotton exporter and exported 128.81 lac bales in cotton season 2011-12, informed Minister of Textiles, Anand Sharma in a written reply in the Rajya Sabha on Wednesday.
"Government has formulated the National Fibre Policy with a decadal perspective, envisaging an annual growth rate of 7 percent for cotton fibre in period 2010-20. The recommendations of the National Fibre Policy have been incorporated into the 12th Plan (2012-17) with specific financing provisions," he said.
Sharma also said that the recommendations of the Cotton Advisory Board have been accepted by the Government. "The Cotton Advisory Board in its meeting dated October 4, 2012 estimated a crop size of 334 lac bales, mill/ SSI consumption of 250 lac bales and export of 70 lac bales."
Government has decided that the exportable surplus of 70 lac bales would be adhered to in registration of cotton exports.
Cotton exports have been placed on Open General Licencing Category subject to registration of export contracts.
