Rajkot (PTI): Despite having bumper cotton production in the country, the Union Textile Minister Shankarsingh Vaghela has expressed concern that the Cotton Corporation of India (CCI) could not achieve its target of exporting cotton worth 55 million dollars due to recession.
The cotton production in the country has been increasing since last five years and the Textile Minister has expressed hope that the production will touch 322 lakh bales in 2008-09.
The cotton production was 179 lakh bales in the country in 2003-04 and is expected to reach a record level of 322 lakh bales in 2008-09, Vaghela said.
According to the Cotton Corporation of India (CCI) cotton production in Gujarat constitutes around 34 per cent of the total country's production and Gujarat has turned into a large cotton producing state in the country.
The Union Textile Minister said that Gujarat is in leading position in both quantity of production and quality of cotton in the country.
He said that CCI has a goal to export cotton of 55 million dollars by 2010 but the target could be achieved only 70 per cent due to recession.
The cotton consumption in the country has been increasing. In 2003-04, cotton consumption was around 177 lakh bales which has gone up by 36 per cent in 2007-8 and during the current cotton season the Cotton Advisory Board has estimated cotton consumption in the country at the same level of last year.
Source : The Hindu