Wed, Feb 18,
Insights
Dismissing speculations surrounding the India-US Trade Agreement, Indian Minister for Agriculture and Farmers' Welfare Shivraj Singh Chouhan has said there will be no compromise on farmers' interests, and cotton's treatment highlights industrial pragmatism.
Supplementary imports ensure textile mills operate at capacity, sustaining demand for domestic cotton and enabling ambitious export targets, he noted.
Dismissing speculations surrounding the India-US Trade Agreement, Indian Minister for Agriculture and Farmers’ Welfare, and Rural Development Shivraj Singh Chouhan yesterday said in Jaipur that there will never be any compromise on farmers’ interests, and cotton’s treatment in the deal highlights industrial pragmatism.
Domestic cotton production falls short of the needs of industries, which necessitates some cotton imports to keep the textile industry running, boost employment and increase exports, he said.
As India’s textile exports, which stand at around ₹4 trillion ($44 billion), have the potential to reach ₹45 trillion, the benefits will ultimately accrue to farmers and the rural economy, he was cited as saying in a release from the Ministry of Agriculture and Farmers Welfare.
Supplementary imports ensure textile mills operate at capacity, sustaining demand for home-grown cotton and enabling ambitious export targets, he noted.
This symbiotic linkage benefits farmers through higher procurement prices and expanded markets, he added.