The hosiery manufacturers here have appealed to the Centre to restrict the cotton exports to a maximum of 5 lakh bales a month during the current cotton year, which began this October and scheduled to end in September 2014. "This type of control is imperative to ensure that adequate quantity of cotton becomes available for the domestic consumption. The projections state that around 360 lakh bales of cotton is set to be produced during the current cotton year," South India Hosiery Manufacturers Association president A. C. Eswaran said. According to the hosiery manufacturers, the Union Government has to act quickly in deciding the ceiling for cotton exports if the apparel sector in the country needs to be protected. "Cotton arrivals have just commenced and the good quality of cotton is usually available during the initial phases of the season. Taking this aspect into consideration, the imposition of regulation in the exports will ensure that sufficient quantity of cotton flows into the textile units within the country," they pointed out. The entrepreneurs also reminded that better unit value could be realised from finished textile products instead of from raw materials that get exported.
Courtesy -- The Hindu Business Line