India’s cabinet special panel rejects proposal to impose tax on surplus cotton exports

According to a report by India’s “Financial Times” on October 25, 2013, the Indian Cabinet Special Group rejected the Textile Ministry’s proposal to impose a 10% tariff on the remaining cotton exports on Thursday. The Ministry of Agriculture supports farmers to grow cotton, encourages cotton exports, and increases the income of cotton farmers. The Ministry of Textiles restricts cotton exports to ensure the interests of the textile industry. The two ministries have always had different opinions on this issue.
In 2012-13, 34 million bales of cotton were produced, 28.7 million bales were consumed domestically, 10 million bales were exported, and 2.5 million bales were imported.