Demand For Imported Cotton Rises In India's Textile Industry

Ahmedabad, May 6 (KNN)
The textile industry is witnessing a higher demand for imported cotton due to low arrivals in the domestic market, reporter TOI.

According to sources, Indian spinners have placed orders for 2.50 lakh bales from Australia which will be duty free.

This stock is expected to reach India in three months, reported TOI.

Many textile firms are planning to import cotton from Africa as the central government has introduced a scheme of half import duty for imports from underdeveloped countries.

Jayesh Patel, the vice-president of Spinners' Association Gujarat (SAG), said, "India's cotton crop is estimated at more than 340 lakh bales. However, the arrivals have remained slowed this year because many farmers have not sold their entire crop in the anticipation of better prices."

"Our cotton imports from Australia have increased significantly last year and this year too, we expect around 2.50 lakh duty-free imports of bales in the next three months. Importers have placed orders and shipments will start soon," said Patel.
(KNN Bureau)

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