Vaghela refuses to remove cotton from purview of the E C Act

Mumbai, August 5 (UNI) Union Textiles Minister, Shankersinh Vaghela today expressed his inability to remove cotton from the purview of the Essential Commodities Act (E.C. Act) as ''there was difference of opinion within the ministry over the issue''.

Inaugurating the 2nd All India Cotton Traders Associations' conference here this morning, Mr Vaghela conceded that the demand for theremoval of cotton from the purview of the act was being raised by traders since a long time on a plea that the cotton scenario in the country has undergone a sea change as it was no longer in short supply.

However, he said the inter-ministerial differences over the issue has put the Textile Ministry in a helpless situation. The minister also released copies of two fresh parameters of Indian Cotton Contracts of the East India Cotton Association (EICA) on the occasion.

Delivering the presidential address at the conference, EICA president K F Jhunjhunwala said that traders are quite hopeful that the cotton exports from the country is set to cross around 50 lakh bales by the end of the current financial year.

Mr Jhunjhunwala further added, ''The golden era of cotton exports for India has begun which was evident from the fact that the Cotton Advisory Board (CAB) has estimated cotton exports at 33 lakh bales for the current season''.

He however hoped that the exports may exceed the CAB's estimates and it may be somewhere between 45 and 50 lakh bales by the end of the current fiscal.

Jhunjhunwala told UNI, ''We've promised the central government of extending all our support as required by them to achieve the target''.

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