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The central government has taken important steps to buy cotton from farmers during the 2023-24 season on the minimum support price (MSP). By 25 March, the government bought 99.41 lakh bail cotton, which is an important part of the total arrival of 260.11 lakh Bell. As part of this effort, the government has spent Rs 11,712 crore for MSP operations. Minister of State for Textiles Pabitra Margerita gave this information in Parliament on Tuesday.
Cotton farmers benefited
About 7.25 lakh farmers have directly benefited from the cotton purchase made by the central government. The Cotton Corporation of India (CCI) purchased 32.84 lakh bail cotton under the MSP, which could give farmers a better price from competitive rates in the market. The Minister of State for Textiles said that under the MSP system, cotton prices never fall down, causing farmers to protect them from crisis.
Efforts for global promotion of cotton
The Government of India is also taking tough measures to make an identity in the global market of cotton. The Minister of State for Textiles said that the government has registered musk cotton as the brand trademark of India, which will give Indian cotton a unique identity. This step is important for promoting Indian cotton globally and cotton will prove to be beneficial for farmers.
Also read: Decision to purchase 100% pulses on MSP, farmers will get big benefit
Efforts to promote textile industry
The central government has taken many important initiatives to promote the Indian textile industry. In February this year, Textiles Export Promotion Council (EPC), a textile support by the Ministry of Textiles, organized the ‘Bharat Tex 2025’, in which India’s textile manufacturing capacity was displayed on a global stage. The modern and world -class infrastructure of the textile industry is being constructed in India through PM Mega Integrated Textile Region and Apparel (PM Mitra) Park Scheme and Production Linked Promotion (PLI) scheme. These efforts will promote India’s competitive ability and increase the demand for Indian textiles in global markets.
