MoU signed between CCI and TEXPROCIL on Branding and Certification of “Kasturi Cotton India”

Tags: Economy/Finance National News

A Memorandum of Understanding (MoU) was signed between the Cotton Corporation of India (CCI) Limited and TEXPROCIL on Branding, Traceability and Certification of “Kasturi Cotton India” in Varanasi on 15th December.

Important facts

• The Cotton Corporation of India, along with the textile industry and exporters, is striving to ensure that India's cotton farmers get their due in the world markets.

• This collaboration will benefit cotton farmers who will get the actual value of their produce due to brand building and quality assurance.

• Union Minister of Textiles, Consumer Affairs, Food & Public Distribution and Commerce & Industry, Piyush Goyal announced the creation of an advisory group on ‘Man-Made Fibre’ on the lines of Cotton Group. 

• The MoU will encourage the Industry to work on the principle of self-regulation by owning complete responsibility of Traceability, Certification and Branding of Indian cotton, Ministry of Textiles. 

• The Government of India will contribute an equal share of Rs 15 crore over a period of three cotton seasons starting from 2022-23 to 2024-25.

What is Kasturi Cotton?

• India’s premium Cotton is known as ‘Kasturi Cotton’ in the world cotton Trade. 

• The Kasturi Cotton brand represents whiteness, brightness, softness, purity, uniqueness and Indianness. 

• World Cotton Day is observed on 7th October every year.

• Cotton is a Kharif Crop which requires 6 to 8 months to mature.

• Top Cotton Producing States in India - Gujarat > Maharashtra > Telangana > Andhra Pradesh > Rajasthan.

Cotton Corporation of India (CCI)

• It was established in 1970 under the administrative control of the Ministry of Textiles as a Public Sector Undertaking under the Companies Act 1956.

• It undertake price support operations, whenever the market prices of cotton fall below the Minimum Support Prices (MSP) announced by Govt of India, without any quantitative limit.

• Headquarters: Belapur, Navi Mumbai