The central government supported the farmers on MSP by buying 99.41 lakh bale cotton in the 2023-24 season, which benefited 7.25 lakh farmers.

The central government has taken important steps to buy cotton from farmers at the minimum support price (MSP) during the 2023-24 season. As of March 25, the government bought 99.41 lakh bale cotton, which is a significant part of the total arrival of 260.11 lakh bales. As part of this effort, the government has spent Rs 11,712 crore for MSP operations. Minister of State for Textiles Pabitra Margherita gave this information in Parliament on Tuesday.

Cotton farmers benefited

About 7.25 lakh farmers have directly benefited from the cotton purchase done by the central government. The Cotton Corporation of India (CCI) purchased 32.84 lakh bales of cotton under MSP, which enabled farmers to get better prices than the competitive rates in the market. The Minister of State for Textiles said that under the MSP system, cotton prices never fall down, which protects farmers from distress sale.

Efforts for global promotion of cotton

The Government of India is also taking strong steps to make cotton an identity in the global market. The Minister of State for Textiles said that the government has registered Kasturi cotton as the brand trademark of India, which will give a unique identity to Indian cotton. This step is important to promote Indian cotton globally and will prove beneficial for cotton farmers.

Efforts to promote textile industry

The central government has taken several important initiatives to promote the Indian textile industry. In February this year, the Textiles Export Promotion Council (EPC), supported by the Ministry of Textiles, organized 'Bharat Tex 2025', which showcased India's textile manufacturing capacity on a global platform. Modern and world-class infrastructure for the textile industry is being created in India through the PM Mega Integrated Textile Region and Apparel (PM MITRA) Park Scheme and the Production Linked Incentive (PLI) Scheme. These efforts will boost India's competitive ability and increase the demand for Indian textiles in global markets.