Resolve cotton pricing issue in the spirit of collaboration rather than competition, said Commerce and Industry Minister PiyushGoyal here on Friday. At a meeting held with textile industry players, the Minister warned the cotton bale traders against manipulation of prices or hoarding to make unfair profits.
The manufacturing sector should not depend on Government support, as it is not healthy for the robust growth of the sector, he said.
Farmers’ interests are being taken care of for the first time as they are now getting better prices for cotton, supported by very good base minimum support price. Pricing issue of cotton bales and yarn for the industry should not be allowed to impact the prices that farmers are getting, he added.
Mr. Goyal said that the idea of short term super normal profits by a section of players in textile value chain was not sustainable. “No one should force the Government to intervene. Let free and fair market forces play out,” he added.
The Minister further said that the value chain gets adversely impacted even if one section was weak. AatmaNirbhar Bharat applies to every one in the value chain. All stake holders in the textile value chain need to support each other for long term sustainable growth.
