Present grope being faced by Southern states of India in terms of textile have been addressed by Sanghani as a result of the ban on exports of cotton issued a month ago. This not only brought down the prices of textiles but also made the situation challenging for cotton producers across the country.
Hence, Gujarat Chief Minister Narendra Modi took up charge to send across a writ demand to the central government asking for higher duties to be levied on the export of cotton so that the country can generate better returns for the much demanded cotton amidst global industrial setups.
In a deeper crest of things however, Sanghani can infer that floods across Asian counterparts in cotton production would be unlikely to contribute a fair share of exports this year thereby making it a win win situation for India to quote a higher price and avail compensation for the losses incurred so far.
In last two weeks, the price of cotton has gone down roughly by Rs. 500 per quintal and means a noticeable loss for farmers.