CottonGuru Market Newsletter – India Cotton 2024-25
Cotton Associan Of India
India Cotton 2023-24
Indian Cotton closing stock saga: With crop size of 37.169 equivalent to consumption of 31.300 million bales, exports of 2.8 million bales are likely to deplete the closing cotton stock of Indian cotton to a new low of 2.33 million bales as per Cotton Association of India (CAI).
Source-CAI
Government
With the Supreme Court asking the Central government to formulate a national policy with regard to the environmental release of the Genetically Modified (GM) crops, All India Cotton Farmer Producer Organization Association (AIFCA) feels there must be an open debate on GM and HTBT Cotton between Farmer Associations, Scientists and Government officials from Environment, Agriculture & Textiles.
India Textile Policy 2024:
India introduced its Textile Policy 2024 with a strategic focus on enhancing the overall growth and modernization of the textile sector.
Main Objectives: Boosting Production: Target to increase textile production output significantly to cater to both domestic and international markets.
Job Creation: Expected to generate 10 million direct and indirect jobs by 2030, with a special emphasis on women and youth employment.
Doubling Exports: Aims to double textile and apparel exports from $44 billion to $100 billion by 2030, making India a global textile hub.
Strategic Focus Areas: Infrastructure Development: Creation of more Textile Parks under the PM Mega Integrated Textile Region and Apparel Parks (PM MITRA) initiative, focusing on integrated value chains.
Technology Integration: Adoption of Industry 4.0 technologies such as AI, IoT, and automation to enhance production efficiency and lower operational costs.
Technical Textiles: Significant boost in the production of technical textiles (e.g., medical textiles, geotextiles) by focusing on innovation and R&D.
Sustainability & Eco-friendly Practices:
Green Textiles: Promotion of sustainable and eco-friendly production practices, including incentives for the use of organic and recycled materials.
Energy Efficiency: Policy incentives for factories adopting green energy and energy-efficient technologies to reduce carbon footprint.
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CAI estimates daily Cotton arrivals increased from 0.164 lakh bales to 0.178 lakh bales. Total cotton arrivals (1st Oct 24 to 25th October 24) are about 12.73 lakh bales