Resolve Cotton Pricing issue in the spirit of Collaboration rather than competition: Textile Minister to Industry

"Resolve Cotton Pricing issue in the spirit of Collaboration rather than competition," said Piyush Goyal, Union Minister of Textiles, Commerce & Industry, Consumer Affairs and Food & Public Distribution, while speaking to Textile Industry players in a meeting, here today. He asked the Textile Industry leaders not to push Government to intervene.

Minister cautioned the cotton bale traders from manipulation of prices or do hoarding to make unfair profits.The Minister further stated that manufacturing sectors should not depend on Government support for growth. Too much dependence of State support is not healthy for the robust growth of the sector. The Minister was intervening to resolve issues regarding cotton yarn prices between cotton yarn manufacturers and down stream Textile industry.

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He said that Farmers interests is being taken care off for the first time as they are now getting better cotton prices supported by very good base MSP. Pricing issue of cotton bales and yarn for the Industry should not be allowed  in any way to impact the better prices which farmers are getting, he added.

Goyal said that idea of short term Super normal profits by a section of players in Textile value chain is not sustainable. “No one should force the Government to intervene. Let free and fair  market forces play out .Super normal profits should not be booked for short term goals”, he said.

The Minister further mentioned that whole value chain gets adversely impacted even if one section gets weak. Aatma Nirbhar bharat applies to every one in value chain. All must get benefitted and all must grow.

He said that  Cotton bale and yarn prices need to be such that all get benefitted . He exhorted that all stake holders in Textile Value chain need to support each other for long term sustainable growth.

The Minister further mentioned that whole value chain gets adversely impacted even if one section gets weak. Aatma Nirbhar bharat applies to every one in value chain. All must get benefitted and all must grow.

He said that Cotton bale and yarn prices need to be such that all get benefitted . He exhorted that all stake holders in Textile Value chain need to support each other for long term sustainable growth.

Minister cautioned the cotton bale traders from manipulation of prices or do any hoarding to make unfair profits. The Minister added that reasonable profits are good and acceptable but undue advantage can not be allowed to be taken by any one value chain. He also said that no one would be allowed to come in the way of better cotton prices to Farmers.