CAI HOPEFUL OF A BRIGHT CURRENT COTTON SEASON

Atulbhai Ganatra, President, Cotton Association of India announced that he and his team of directors had met the Maharashtra CM and urged him to remove the cess levied by various marketing committees that range from 0.5 per cent to 1.1 per cent.

Ganatra exults the CM had agreed to their request and had assured them that the ‘mandi’ tax on Kapas will be removed. Also, Maharashtra government will shortly come out with favourable Textile Policy, which will attract the investors to locate cotton spinning mills in Maharashtra.

He further noted, ginners are facing problems in the new GST regime under RCM across the country. CAI has taken up this issue with the GST Council and the FM in New Delhi and there was a protest against this by the all India ginners strike which was held on 15th December in the majority of cotton growing states in India. CAI has 70 ginners as members in the Association and this is the first time CAI has taken up the matter of resolving issues of the ginners.

The president and CAIs directors met the CMD and other directors of Cotton Corporation of India and requested them to utilise CAIs 13 cotton testing laboratories which are in almost all cotton growing states and also to use the CAI arbitration facilities. This will boost CAI's income, he mentioned.

As per CAI, arrival of cotton in India up to 31st December, 2017, had crossed 147.75 lakh bales in this season. During the same period last year arrivals were about 108 lakh bales. These arrival figures were collected from each state, by consulting four big ginners to arrive the correct figures.

Since cotton rates have gone up in India by 10 per cent in the last one month, the earlier set target of cotton export of 63 lakh bales looks difficult now, hence cotton export figures have been reduced and revised from the earlier 63 lakh bales to 55 lakh bales.

Due to reduction in export and increase in import, CAI’s carry forward has increased from 39 lakh bales to 50 lakh bales on 30th September 2018, which is a very comfortable position for Indian spinning mills. The CAI President said that our Association is ready to join hands and work together hand in hand with all other state associations.

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