Cotton farmers oppose Goyal’s U.S. import remarks, warn of price crash

Groups of cotton farmers across the country have protested Union Commerce Minister Piyush Goyal’s recent statement that if India purchases raw cotton from the United States, processes it domestically, makes cloth, and exports the finished products back to the U.S., then the country can also avail a zero reciprocal tariff—similar to a facility reportedly extended to Bangladesh. Farmers’ organisations argued that by taking such a stand, the Centre ignored the interests of domestic cotton cultivators.

Mr. Goyal had said that the Opposition was misleading the public by claiming Bangladesh had secured greater benefits. “Just as Bangladesh has a facility that if raw material is purchased from America, processed into cloth and exported, it will be available at zero reciprocal tariff, India also has the same facility and will get it,” he said. 

source:thehindu.com