Update on Indian Cotton Textile Sector
By Dr. Seshadri Ramkumar
The Indian government implemented its largest ever minimum support price (MSP) scheme through Cotton Corporation of India during the 2014-15 cotton season.
On June 10, Honorable Santosh Kumar Gangwar. Indian Union Textiles Minister, stated that the recent MSP program was carried out to safeguard the interest of Indian cotton growers.
The scheme, which was implemented in 11 cotton growing states of India, procured 8.6 million bales (170 Kgs each) during the 2014-15 season ending March 30, 2015.
The MSP scheme is also being executed during the current 2015-16 season and, to date, has procured about 900,000 bales (170 Kgs each). Cotton Corporation of India operates more than 340 procurement centers in the country’s 11 cotton producing states.
During the 2014-15 season, India became number one in the world in cotton cultivation, with 32.05 million acres. In the previous season (2013-14), India had 28.99 million acres under cotton cultivation.