The meeting of Group of Ministers,GoM, to review ban on Cotton export is expected to continue its discussions today. GOM had detailed deliberations yesterday. Commerce and Industry Minister Anand Sharma said that talks remained inconclusive and further discussion is required. The Commerce Ministry banned cotton exports on 5th of this month. The Agriculture Minister Sharad Pawar had reservations over the decision. The meeting of the (GoM), headed by Finance Minister Pranab Mukherjee, was attended by Agriculture Minister Sharad Pawar, and Anand Sharma, who also holds the Textiles portfolio. Earlier this week, the Textile Ministry had said the ban was imposed after taking into account the trend of domestic consumption and depletion of domestic availability. Explaining the reasons behind export ban, the ministry said that the country had already shipped 10 lakh bales more than the exportable surplus, reducing the domestic availability.
News On AIR | March 10, 2012 11:28 AM
GoM to review ban on Cotton export likely today