India Will Export &Nbsp; 110&Nbsp; Ten Thousand Bales Cotton To Bangladesh.

Bangladesh commerce minister Muhammad Faruk Khan said that the Ministry of Commerce of India has assured him that India will import more Bangladesh goods without customs duties, and Bangladesh will soon receive a positive response.

Mr. Khan held an occasional meeting with India finance minister Pranab Mukherjee yesterday. He said that senior India leaders also assured that the joint communiques signed by the two countries in January this year will be implemented as soon as possible.

Supplement:

The Rupp Exporters Association appealed to prime minister Singer to take steps to reduce yarn prices and postpone the export of cotton to January 15, 2011.

In a memorandum to the prime minister, the chairman of the association, A. Sakthivel, said that India knitted garment enterprises were facing the threat of bankruptcy. After the festival, the price of raw materials spiraled up.

Cotton exports have led to problems in the local textile industry. It is necessary for the prime minister to intervene in cotton exports so as to save the knitting industry.

The government has approved the export of 5 million 500 thousand bales of cotton from November 1st, and the domestic market price is rising day by day.

The real beneficiaries are businessmen and pnational corporations.

The countries that compete with India's garment exporters are making use of India cotton. Because of the export of cotton, India manufacturers are losing competitiveness.

Therefore, the federal government should control the quantity of cotton exports and do not allow exports of cotton beyond 5 million 500 thousand bags.

Another problem that the clothing industry is seriously worried about is the shortage of cotton yarn supply.

The government should prohibit the export of cotton yarn, only when the supply of yarn in the domestic market returns to normal can the ban be lifted.

Only 10% of cotton yarn produced in India should be exported.

The export of yarns should also be set, and a 15% ad valorem tax on cotton yarn exports should be set.