Noida garment exporters demand ban on export of Indian cotton and yarn
Noida Apparel Export Cluster (NAEC) has demanded a complete ban on export of Indian cotton and yarn to increase production in the domestic apparel industry, so that the finished products can be exported internationally to generate more revenue.
The cluster also said that the ban on export of cotton and yarn will ensure greater availability of raw materials for the apparel industry, which has been sluggish for the past six months due to the Covid-19 induced slowdown, and enable it to compete Is. in the global export market.
Lalit Thukral, President, Noida Apparel Export Cluster and Convener of Readymade Garments (RMG), Uttar Pradesh Export Promotion Council, said that the industry is already battling huge losses due to the pandemic and large scale exports of cotton and yarn. It has come as a double blow. It is worth mentioning here that the share of Noida in apparel exports in the last financial year was US$ 3.5 billion.
As per the data of the Ministry of Textiles, the country exported around 12 million bales of cotton and yarn in the last two financial years. Data shows that India exported around 5.5 million bales of cotton and yarn to Bangladesh, Vietnam and China in the last fiscal. Of this, 2.197 lakh bales (about 275 million kg) were for China alone.
While exports of cotton and yarn generate revenues of around USD 75 billion every year, Thukral said exports of finished garments would increase if exports are banned and more raw materials are made available to the apparel industry. will be generated annually. Revenue of about 40 billion US dollars.
He further said that exports were eating into the availability of raw materials for the domestic ready-made garments industry - currently only half of the annual demand of 12 million bales is being met.
A Joint Secretary rank official in the Textiles Ministry, on the condition of anonymity, said, “India exported almost 50% of its cotton and yarn to China in the last fiscal. “Our ministry has set a target of USD 400 billion in merchandise exports in the current financial year 2021-22. We will soon ban the export of cotton and yarn as it not only affects employment generation (more raw material will provide direct/indirect employment to at least 9 million more people), but also the growth of garment manufacturers and exporters. also obstructs,"
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