ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Best of Both Worlds

Best of Both Worlds THE assurance by the Minister of State for Foreign Trade in Rajya Sabha on November 26 that cotton mills would not be allowed to close down en bloc for two spells of 15 days each as demanded by the industry and that the Government would help tide over the shortage of cotton through additional imports appears to have quietened the talk of block closure. Instead, the industry is now talking of a 15 per cent voluntary reduction in cotton consumption by the mills. Of course, the industry knows only too well that most of the mills will evade such a voluntary cut and so we have the strange spectacle of the industry seeking Government intervention to statutorily enforce the proposed cut in consumption on each mill. Simultaneously, the industry has unleashed massive publicity about the alleged cotton scarcity in the country. It is astonishing how those who were confidently expecting a satisfactory cotton crop only a few weeks earlier, have now suddenly revised their estimates downwards although there has been little change in either the agronomical or the meteorological scene in the major cotton growing tracts.

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