New Delhi: State-run Cotton Corp. of India (CCI) is set to procure over one million bales of premium Kasturi cotton in the current season that began in October. Union Textile Minister Piyush Goyal is scheduled to unveil products crafted from this high-grade fiber on 2 December, as a part of the government’s initiative to promote it in global markets.
India’s cotton output for the 2023-24 season is projected at 36 million bales of 170 kg each, Lalit Kumar Gupta, chairman and managing director, CCI, told Mint. Last year, output stood at an estimated 34.2 million bales.
Despite a marginal decrease in area under cotton to 12.6 million hectare from 12.9 million hectare, Gupta does not expect a hit to output.
Currently, around 300 ginning and pressing factories registered with the Cotton Textiles Export Promotion Council (TEXPROCIL) are equipped to process Kasturi cotton.
Gupta highlighted that unlike India, which has only recently branded its cotton despite being a major producer with the largest area under the cash crop, Egypt has successfully positioned its Giza cotton brand internationally with an annual output of a modest one million bales.
He emphasized that Kasturi Cotton Bharat is produced to stringent standards, with a strict 2% cap on trash content to ensure its premium quality and 100% traceability.
The textile ministry, meanwhile, is slated to organize a three-day global textile event, BharatTex, from 26 February in New Delhi.
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
