Almost after 2 years, Pakistan has urged India to export cotton so that it can ensure enough availability of raw material. Pakistan has been struggling to have enough cotton for its textile industry.
Pakistan’s Economic Coordination Council (ECC) has allowed the import of cotton and cotton yarn from India.
Cotton is amongst the top imported items by Pakistan from India,with the latter exporting cotton worth US $ 550.33 million to Pakistan in 2018-19 and US $ 64.25 million in 2019-20.
The proposal for the same was presented for approval before the top committee at a meeting convened by the country’s Commerce Ministry officials.
The proposal to lift the ban on cotton imports came in the backdrop of a shortfall in raw material for Pakistan’s textile industry, which has, reportedly, been facing issues due to a low domestic yield of cotton in the country.
On top of this, imports from other countries, like the US and Brazil, have reportedly been more expensive, and take longer time to reach Pakistan.
Reacting to Pakistan’s decision to lift the ban, most of the Indian exporters are not open to say anything on record as they are waiting for the response of Indian Government.