Increase in MSP for cotton may affect exports : SIMA

Southern India Mills Association (SIMA) said though the steep increase in MSP for cotton would benefit farmers it would have an impact on the cost of clothing and also the industry, reported PTI. The decision may also affect cotton exports if Indian cotton prices ruled above international prices, SIMA Chairman, P Nataraj said in a statement. He also hailed the proactive and historic initiatives taken by Prime Minister Narendra Modi to strengthen the agriculture sector that would greatly benefit cotton farmers.

The SIMA chairman appealed to the Prime Minister to exercise cotton MSP operation under Direct Benefit Transfer System (DBT) and revamp the role of Cotton Corporation of India (CCI) so as to benefit the farmers and the industry equally. India has been the largest cotton producer in the world since 2015-16 surpassing China and USA and nearly 2.3 crore farmers are currently cultivating cotton.

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