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Cover Story | September 2016

Pricing policy is required to keep cotton prices on par with international prices

The Cotton Textiles Export Promotion Council, known as TEXPROCIL, has been the international face of cotton textiles from India facilitating exports worldwide. The Council connects international buyers with appropriate suppliers and facilitates interaction that enables them to source their specific needs.

Siddhartha Rajagopal, Executive Director, Texprocil, provides some wish-list for the industry and the Government in boosting cotton consumption in India.

Excerpts...

With the cotton price hardening, what are the industry’s concerns in the medium and long term?

The hardening of the cotton prices in the last few weeks is a matter of concern to the textile industry where cotton is the main raw material.

The rise in prices has affected many textile mills especially those that do not have stock of the raw material. Due to this situation imports are likely to be more than the estimates as international cotton prices are lower than the Indian prices. Higher cotton prices hit production of cotton-based goods with a final impact on export of cotton-based textile goods.

The Council has always been making repeated representations to the Government that cotton prices should always be available at par with international prices or lower. Such a move will ensure a regular supply of the raw material thereby addressing the concerns of the textile mills.

What is the scene on production of cotton this year and how do you think it will affect the growth of the industry in the future?

Cotton is one of the principal crops of India and plays a vital role in the country’s economic growth by providing substantial employment and making significant contributions to export earnings.

India is the largest producer of cotton in the world.

In 2015-16, the estimated production of cotton in India—as per the recent Cotton Advisory Board meeting held on July 13—was about 338 lakh bales of 170 kg each. The cotton crop in India was affected because of the whitefly attacks in the northern belt due to which the estimates were revised downwards to 338 lakh bales.

One of the main requirement of the textile mills in India is that a close-to-accurate forecast should be available on cotton crop for the year. This helps the mills and other SMEs to plan their output without any change in the production schedules.

India is able to cater to its domestic demand of cotton as well as exports provided there is no cause for importing the raw material. If cotton is made available at international prices or lower then cotton based mills will have a guaranteed supply of the raw material thus aiding the growth of the industry.

Are there investments happening in cotton? What are the future trends?

Indian cotton textile industry is one of the oldest and largest in the country. Within the cotton textile value chain, cotton ginning is a significant process as it is an interface between the farming and mill sectors. Ginning along with pressing is an important element in providing the final cotton to mills.

With India now leading the world in cotton production there are investments also being made in this sector However, there is a need to modernise this sector and make it more competitive by producing cotton of international quality. Automation is the key to improving productivity of the gins and future investments need to be made to automate the process of ginning.

What is your wish-list for the industry and the Government in boosting cotton consumption in India?

During the last 10-15 years, there has been a phenomenal growth in the textile sector in terms of installed spindleage capacity and yarn production.

The growth and modernisation of the spinning industry has led to a substantial growth in cotton consumption.

To boost cotton consumption in India, the first need is to have a pricing policy that keeps the cotton prices on par with international prices. Beside encouraging domestic off-take, such policies will also limit and restrict the import of cotton.

Another option is to go in for a sizeable price support operation in times of huge fluctuations in the event that there is an imbalance in cotton trade, both in imports as well as in supply.

A third alternative is to look at additional support programmes like the 5 per cent interest subvention during peak buying season from October to April.

What is the export scenario for Indian cotton mills, and what are the effects of global cotton production affecting it?

In the last fiscal year of 2015-16, cotton production was an estimated 338 lakh bales of 170 kg each. The total supply of cotton was about 419 lakh bales including the opening stock of 66 lakh bales and imports of 15 lakh bales. Consumption of cotton was estimated at 308 lakh bales and cotton exports in 2015-16 was approximately 68 lakh bales.

Exports of cotton from India have reduced from a level of over 100 lakh bales in 2013-14 to a level of 55-70 lakh bales in 2014-15 and 2015-16. The exports will gain momentum once the Chinese policy on cotton supply stabilises. One of the factors that affect global cotton trade is the Chinese policy on cotton. China imports as well as exports a huge quantity of cotton but this year the decision was to offload its reserve stocks of cotton in the domestic market. This created a huge gap in the import requirement of raw material into China thereby causing a dip in the exports of other cotton producing countries like India.

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Ltd      Voltas Ltd      Weavetech Engineering Pvt Ltd      Yale Synthlube Industries      A.T.E Enterprises Pvt Ltd      A.T.E Huber Envirotech Pvt Ltd      AB Carter India Pvt Ltd      ACIMIT- ITALY      Advanced Graphic Systems      Angel Mechtronik      Apsom Technologies (India) Pvt Ltd      Arvind Rub-Web Controls Ltd      Associated Autotex Ancillaries Pvt Ltd      B & R Industrial Automation Pvt Ltd      Barnet India Pvt Ltd      Batliboi Ltd      Best Power Equipments India Pvt Ltd      Bharat Beams Pvt Ltd      Bharat Bijilee Ltd      Biancalani Srl      Bracker AG (Rieter)      Bruckner Textile Technology GmbH & Co Kg      C.Gheewala And Co.      Colorjet India Ltd      Condair      DCC Print Vision LLP      Dhara Engineering Works      DN Associates      Elgi Electric and Industries Ltd      Embee Corporation      Eppinger Tooling Asia Pvt Ltd      Excel Traders      Fadis India Pvt Ltd      Fourwents Engineering Company      Gandhi Automations Pvt Ltd      Gem Equipments Ltd      Groz-Beckert Asia Pvt Ltd      Indigo Prints Smart Pvt Ltd      Innova Machines      Inspiron Engineering Pvt Ltd      ITEMA WEAVING (INDIA) PVT LTD      Jaysynth Dyestuff ( India) Pvt Ltd      Jogindra Industries Pvt Ltd      Jumac Manufacturing Pvt.Ltd      K.U. Sodalamuthu and Co. Pvt Ltd      Kirloskar Brothers Ltd      Konica Electronics Enterprise      Kusters Calico Machinery Pvt Ltd      Labelmach      Lakshmi Card Clothing Mfg Co. Pvt Ltd      Lakshmi Machine works Ltd      Loepfe Brothers Ltd (Masterline)      Luwa India Pvt Ltd      MAG Solvics Pvt Ltd      Marvel Gloves Industries      Mayer & Cie. GmbH & Co. KG      Mayur Reeds And Healds Pvt Ltd      MESDAN India Pvt Ltd      Mohler Machine Works Pvt Ltd      Nestling Technologies      Peass Industrial Engineers Pvt Ltd      Perfect Equipment Pvt.Ltd      Picanol N V      Prashant West Point Machinery Pvt. Ltd      Precision Rubber Industries Pvt Ltd      Premier Evolvics Pvt Ltd      Rabatex Industries      Rieter India Pvt Ltd (Novibra)      Rieter India Pvt Ltd (Suessen)      Rieter India Pvt. Ltd      Rieter India Pvt. Ltd      Sabar Machine Tools Mfg. Co.      Savio India Ltd      Savio Texcone (P) Ltd      Schoch Reeds India      Shakti Textile      Sheeba Engineering Co      Skaat Machine Works India Pvt Ltd      Sopromatex (UCMTF)      SRE Corporation      Sri Lakshmi Fire Controls      Stovec Industries Ltd      Sudarshan Gears      Sunrise Industries      Swissmem      Texcoms Textile Solution (E-Products INC)      Texfab Engineers (India) Pvt Ltd      Thies GmbH and Co.      Thymas Electronics Pvt Ltd      Truetzschler India Pvt Ltd      Umargaon Textile Machinery Pvt Ltd      Unitop Aquacare      Vetal Hitech Machines Pvt. Ltd      Voltas Ltd      Weavetech Engineering Pvt Ltd      Yale Synthlube Industries