Indian Cotton Sector Hopes for New Seed Technology from the Budget: Atul Ganatra
Atul Ganatra, Chairman* of the SRCPL Group, said in an interview with CNBC Bajar that cotton productivity in India is extremely low, and the biggest reason for this is outdated seed technology.
He stated that the average cotton production in India is 450 kilograms per hectare, while in Brazil and Australia it is several times higher. Atul Ganatra urged the government to allocate a special fund of Rs. 15,000 crore in the upcoming budget for the development of new seed technology.
He clarified that simply increasing the Minimum Support Price (MSP) will not increase farmers' income. Farmers will only truly benefit when their yield per hectare increases.
Atul Ganatra also suggested that the purchase of cotton at MSP should be stopped and a "Price Difference Scheme" (Bhavantar Yojana) should be implemented, allowing the government to directly transfer assistance to farmers' bank accounts. This would benefit all cotton farmers and strengthen the entire textile industry value chain.
Regarding the increase in cotton imports, he said that allowing duty-free imports and high domestic cotton prices are the main reasons. Since Indian prices are significantly higher than global market prices, cotton exports from India are currently not feasible.
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