India to setup its own Cotton Warehouse in Vietnam to boost Exports

The Cotton Corporation of India (CCI), which is holding surplus stocks of cotton just ahead of the next harvest season, is trying to boost exports of the fibre crop. A memorandum of understanding is being worked out to export 1.5-2 million bales (of 170 kilograms each) of cotton to Bangladesh while the state-run CCI will also set up its own warehouse in Vietnam to boost cotton exports
Countries such as Bangladesh, Vietnam and Sri Lanka have duty-free access to the markets of Europe, US and China, which give them an edge over Indian yarn and garment exporters, who have to bear the burden of various duties.
CCI is a government agency which is governed by Textile Policy 1985, is engaged in activities that are diverse in nature such as export, import, trade and procurement of cotton, also responsible for distribution of cotton.
As of now India is working under National Textile Policy 2000. It was declared by the government that a new textile policy will be out in mid 2020 which will focus on technical textile, manufacturing of garments, apparel, exports etc.

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