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Cotton is the single most important textile
fiber in the world, accounting for over 40 percent
of total world fiber production. While some 80
countries from around the globe produce cotton,
the United States, China, and India together
provide over half the world's cotton. The world's
four largest producing and consuming countries
are China, the United States, India, and Pakistan.
Together these four account for around 60 percent
of world cotton production and consumption.
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India is the third-largest producer of cotton and
the second-largest consumer. Cotton accounts
for more than 75% of India's annual fibre consumption
in the spinning mills and more than 58% of its
annual fibre consumption in the textile sector.
Textile industry in India (major share of which
is constituted by cotton ) currently adds about
14% to the industrial production and 4% to the
gross domestic product (GDP). It provides employment
to about 35 million persons. Together with allied
agriculture sector, it provides employment to
over 90 million people. The contribution of this
industry to the gross export earnings of the
country is over 30% while it adds only 7-8% to
the gross import bill of the country. At the
average price of Rs 45/kg of over
170 lakh bales (average annual consumption, 1
bale = 170 kg) raw cotton traded in the country,
the market size of raw cotton in India is over
Rs. 130 million.
To know more about investing in Commodities contact
: commodities@motilaloswal.com
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