The domestic market for cotton is seeing fewer arrivals, which is causing a rise in the demand for imported cotton in the textile industry. Sources claim that 2.50 lakh duty-free bales from Australia have been ordered by Indian spinners. Jayesh Patel, the vice-president of Spinners’ Association Gujarat (SAG), said, “India’s cotton crop is estimated at more than 340 lakh bales. “Our cotton imports from Australia have increased significantly last year and this year too, we expect around 2.50 lakh duty-free imports of bales in the next three months. The amount of cotton imported by the Indian textile sector last year was approximately 4.75 lakh bales, more than 2.5 times the amount imported the year before.

Source: Economic Times May 08, 2023 07:13 UTC