India’s textiles and apparel exports dropped by nearly Rs. 8,000 cr to Rs. 2,30,056 cr in fiscal 2017-18 from Rs. 2,37,922 cr in 2016-17 due to competition from countries like Bangladesh and Sri Lanka that enjoy preferential duty access in key markets, Indian Minister of State for textiles Ajay Tamta recently said in parliament.
During the current cotton season—October 2017 to September 2018—shipments of cotton from India are likely to touch 70 lakh bales, registering a 20 per cent rise over the previous season, a report quoted the Junior Minister saying in parliament. While 51.2 lakh bales have been exported upto April 30 this year, no target has been set for cotton exports, he said.
There is no proposal to frame a separate policy for export of cotton, as its shipments are dependent on various factors, including demand and supply conditions and the ruling domestic prices vis-a-vis international prices.