New
Delhi - The Indian government
has rejected knitwear industry calls to reduce cotton exports to try to
stabilise yarn and fabric prices, insisting there are sufficient cotton stocks
in the country.
Although total domestic consumption in the 2008-09
cotton season was 26.4 million bales, with a total of 29 million bales produced,
local knitwear and fabric manufacturers argue that much of the good quality
cotton gets exported to China, Indonesia, Thailand and Bangladesh while the
domestic industry has to use the leftovers or buy costly imports.
