India: government withdraws cotton yarn concession
08/04/2010
The Indian government is reported to have withdrawn a concession given to cotton yarn exporters.
The government has come under pressure from apparel exporters across India who have complained that export levels have pushed domestic cotton prices to unmanageable levels.
Reports say apparel companies have endured an increase in the price of cotton yarn of almost 30% in the last few months. The most recent price-rise hit on April 1 and sparked the latest round of protests.
Apparel shipments have fallen to $7.9 billion in the period April 2009 to January 2010, against $8.8 billion over the same period last financial year.
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