Ministry of Textiles has undertaken special measures in COVID crisis to support liquidity flow to the textile industry including cotton textile sector by introducing an option to release part subsidy against Bank Guarantee (BG) in facilitating the subsidy release process. Total 400 units are supported with Rs 100.36 crore under Amended Technology Upgradation Fund Scheme (ATUFS) and 20 units with Rs.42.52 crore under RR-TUFS. The estimated month wise production of cotton yarn for the year 2020-21 (Apr –Jan 2021) is given in Annexure.
The average domestic price of cotton is cheaper by around 14% during the current cotton season as compared to the International cotton price. India is one of the largest exporters of cotton in the World. China, Vietnam, Bangladesh are not cotton exporting countries, but cotton importing countries.
In order to work out annual sourcing plan under “Fabric forward Policy initiatives, India, Bangladesh Textile Industry Forum ( IBTIF) has been institutionalized.
Post time: Mar-24-2021