Indias cotton production to grow 3.8% in 2016-17
The Dollar Business Bureau India’s cotton production is expected to increase by 3.8% in 2016-17 from a year ago period due to a sharp growth in yield in the aftermath of a favorable monsoon. On Monday, the Cotton Advisory Board (CAB) held a meeting, during which it estimated that the domestic cotton production could reach 35.1 million bales of 170 kg each for the cotton year 2016-17. The cotton year starts on October 1st every year. The output of cotton was 33.8 million bales last year. The total area under cultivation has fallen to 8.61 million hectare in 2016-17 from 10.68 million hectares in 2015-16. But Textiles Commissioner Kavita Gupta assured that this shift might change next year on account of a changing weather pattern. “We are estimating a bumper cotton crop this year because of a better monsoon ...
Budget forecasts a positive growth for textile industry
In the previous years budget there was an applicable duty on cotton yarn. However, the Govt made it a point in this budget, to announce that duty on cotton yarn was made nil, saysKavita Gupta, Textile Commissioner, GoI Aadhira Anandh | The Dollar Business Kavita Gupta, Textile Commissioner, GoI The Union Budget of 2016-17 has come as a relief for the textile industry. The basic customs duty on fibers was reduced from 5% to 2.5%. Similarly, there is no mandatory duty imposed on cotton yarn. In the previous years budget there was an applicable duty on cotton yarn. However, the Govt made it a point in this budget, to announce that duty on cotton yarn was made nil. This years budget has recognised the ...
