India mulls cotton export duty
17/09/2013
It hopes the tax would encourage the sale of more cotton in domestic markets, which would be used to make textiles and garments that could be shipped overseas, generating more money than simple cotton exports.
India, the second-biggest cotton producer after China, is expected to have a bumper harvest this year as ample rains are likely to increase yields. The government will decide how much is surplus and available for export. Any curb on cotton exports could boost flagging global prices.
India earned about $8.94 billion from cotton exports in 2012/13, equivalent to 3% of total exports.
The government is due to discuss the cotton duty on Thursday.
Share this story:
