India's cotton production is projected to decline to around 29 million bales in 2026-27, prompting the Centre to consider extending duty-free imports until December to ease supply pressures.
India has raised the price at which it will buy new-season cotton from domestic farmers by 7.8% to 8,110 rupees per 100 kg, but local market prices are hovering around 7,000 rupees
The limited supplies are keeping local prices significantly above the global benchmark, making overseas sales unviable from the world's biggest producer of the fibre
Pakistan's textile sector is "disappointed" by the government's decision to not allow the import of Indian cotton and has said that buying cotton from the neighbouring country is the need of the hour