Related Keywords: after GST is rolled out, by more than fifty percent, confused over duty draw back, cotton purchased before end June, cotton purchases have come down, maintain minimum inventory, purchases expected to remain low, purchases from exporters even declined, reduced cotton procurement, Textile mills, till things become clear, Traders estimate
Textile mills have reduced cotton procurement to maintain minimum inventory. The purchases are expected to remain low till things become clear after the GST is rolled out. Traders estimate that cotton purchases have come down by more than 50 percent in recent times.
Nirav Patel of a city-based cotton export house said that cotton buying by mills has reduced noticeably as mills are preferring to keep minimum stock.
