The Southern India Mills Association (SIMA) seeks timely 'policy intervention' to stabilise cotton prices
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13th October 2021, Mumbai:
The Southern India Mills Association (SIMA), 'Committed to foster the growth of the textile industry in India, urged and seriously appealed to Prime Minister Narendra Modi to present an innovative 'Cotton Procurement and Trading Scheme for Cotton Corporation of India' for bringing price stability.
SIMA unequivocally stressed the feasibility of this reducing trade pressure point doing it by providing government funding to procure 10 to 15 percent of the cotton arriving in the open market during the season, also by strategic stockpiling to attain sanguine price stability.
Furthermore, the selling of cotton can be calibrated till the end of the season while also aiming to maintain historic stock for the following season.
Most importantly the Government is also sincerely prompting & motivating the production of organic cotton to protect the soil health and environment, besides to meet the fledgling demand of domestic and international markets, more so as India continues to be a frontrunner in the space of growing organic cotton.
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