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In a MOU signed today with the Ministry of Textiles, the Cotton Corporation of India (CCI) agreed for 2005-06, to purchase 16 lakh bales and sale of 17.50 lakh bales consisting of 16.5 lakh bales in domestic market and 1 lakh bales in export. These targets are higher compared to targets of MOU for 2004-05 wherein purchase was targeted at 10 lakh bales and sales of 9.5 lakh bales. Financial parameters as well as Marketing parameters have been raised in MOU 2005-06 compared to the parameters fixed in 2004-05 to improve the performance of the Corporation further. The Corporation is carrying out Minimum Support Operation during the year 2004-05 and it is anticipated that the Corporation will also be required to undertake Minimum Support Operation during the year 2005-06.
The MOU for the year 2005-06 was signed today by Shri R. Poornalingam, Secretary (Textiles) on behalf of the Ministry of Textiles, Government of India and Shri Subhash C.Grover, Chairman-cum-Managing Director, for the Cotton Corporation of India Limited.
The CCI has been signing MOU with the Ministry of Textiles since 1992-93. Ever since the CCI started signing MOU with the Ministry, its performance was rated either ‘Excellent’ or ‘Very good’. Its performance for the Financial Year 2004-05 is expected to be rated as ‘Very good’ based on the projected performance.
The CCI has been actively promoting Integrated Cotton Farming Programme in different States. This Programme generated considerable interest among all concerned and this programme has given better yield and improved the quality of cotton to benefit the farmers, helping them to realize higher prices for their produce. During the Cotton Season 2004-05, the Corporation has carried out Integrated Cotton Farming Programme in Haryana, Maharashtra, Karnataka, Andhra Pradesh and Gujarat. In the MOU for 2005-06, the Corporation has committed for coverage of an area of 20,000 hectares under Contract Farming Projects in addition to facilitating such projects by mills, associations related to cotton & textiles.
The CCI, being the ‘Implementing Agency’ for Mini Missions III & IV of Technology Mission on Cotton concerned with improvement of market infrastructure and modernization of ginning and pressing factories, has already undertaken the above work and about 83 market yards have been completed and 285 Ginning Factories have been modernized in the last 6 years. The targets for the next year include modernization of 12 market yards and 70 Ginning & Pressing Factories.
The Corporation is continuing its role of helping the cotton farmers in all possible ways while maintaining its profitability.
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