Centre's Cotton Procurement Surpasses 99.4 Lakh Bales at MSP This Season
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Synopsis
As of March 25, the Centre has procured 99.41 lakh bales of cotton at MSP from farmers, with total market arrivals at 260.11 lakh bales. The government allocated Rs 11,712 crore for MSP operations, benefitting 7.25 lakh farmers, while promoting initiatives for global textile branding and exports.
Key Takeaways
- The Centre procured 99.41 lakh bales of cotton at MSP.
- Government spent Rs 11,712 crore for MSP operations.
- Support benefited around 7.25 lakh cotton farmers.
- Kasturi Cotton registered for global branding.
- Government initiatives aim to boost textile exports.
New Delhi, April 1 (NationPress) The Centre has successfully acquired 99.41 lakh bales of cotton directly from farmers at the minimum support price (MSP) as of March 25 this year, from a total market arrival of 260.11 lakh bales, according to a statement made in Parliament on Tuesday.
In addition, the government allocated Rs 11,712 crore for MSP operations to purchase cotton from farmers throughout the 2023-24 cotton season. The Cotton Corporation of India (CCI) assisted farmers by procuring 32.84 lakh bales under the MSP scheme, benefiting approximately 7.25 lakh cotton farmers across all cotton-producing states, as stated by the Minister of State for Textiles, Pabitra Margherita, in a written reply to the Rajya Sabha.
The government offers MSP to guarantee fair prices for cotton farmers, protecting them from distress selling if the prices of Fair Average Quality (FAQ) cotton dip below the MSP. This purchasing practice helps stabilize prices, the minister noted.
Moreover, to enhance the global standing of Indian textiles, the government has registered Kasturi Cotton as a trademark, establishing a unique identity for high-quality Indian cotton, the minister added.
Support for cotton farmers is vital for advancing India’s textile export sector.
Highlighting governmental initiatives to boost textile exports, the minister mentioned the successful organization of the Global Mega Textile Event BHARAT TEX 2025 in February, conducted by the Textile Export Promotion Councils (EPCs) and supported by the Ministry of Textiles. This event showcased India’s strengths as a leading textile manufacturing hub, covering the entire value chain from raw materials to finished products while underscoring the industry’s manufacturing capabilities, global competitiveness, and commitment to sustainability.
To further promote Indian textiles in global markets, the government is executing various initiatives, including the PM Mega Integrated Textile Regions and Apparel (PM MITRA) Parks Scheme aimed at establishing a modern, integrated textile infrastructure; the Production Linked Incentive (PLI) scheme targeting man-made fibre (MMF) fabric, MMF apparel, and technical textiles to enhance large-scale manufacturing; the National Technical Textiles Mission focusing on research, innovation, development, and market growth; and the SAMARTH scheme for capacity building in the textile sector, designed to provide demand-driven, placement-oriented skill training programs, the minister concluded.
