The Cotton output estimate for the 2023–24 season is 309.70 lakh bales, a notable rise over the first projections. A rise in the use of genetically engineered cotton seeds, better agricultural practices, and favorable weather patterns are all responsible for this production boom.
Strong Domestic Demand: The Indian textile sector is expected to benefit from the increase in domestic demand for cotton, especially from Micro, Small, and Medium-Sized Enterprises (MSMEs). The country’s MSME sector is a major engine of economic expansion and job creation, and their growing consumption of cotton is encouraging for the outlook for the market as a whole.
Availability of Surplus Cotton: India still has enough surplus cotton on hand to meet its needs both domestically and internationally, even though it has slightly less than in prior seasons.
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