Financial Daily from THE HINDU group of publications
Thursday, Oct 03, 2002
Financial Daily from THE HINDU group of publications Thursday, Oct 03, 2002 |
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Industry & Economy
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Events Agri-Biz & Commodities - Cotton SICA invited to ICAC plenary meet in Cairo G. Gurumurthy
COIMBATORE, Oct.2: THE South India Cotton Association (SICA) has been invited for the first time to participate in the plenary meeting of the International Cotton Advisory Committee (ICAC) to be held in Egypt later this month. The ICAC Secretariat has written to the Coimbatore-based SICA asking it to nominate a member of the association to the eight-member Indian delegation that will represent the Indian cotton community at the 61st plenary of the ICAC to be held at Cairo between October 20 and 25, according to sources in the textile industry. The Indian delegation to be led by the Additional Textile Secretary in the Ministry of Textiles will have, among others, members representing the East India Cotton Association, Indian Cotton Mills Federation and Cotton Corporation of India and the Union Agriculture Ministry officials. The ICAC plenary this year will have `21st century cotton industry: Growth through private investment' as its theme. Among the major topics the Cairo plenary will deliberate are government measures and progress on talks on agriculture under the WTO, encouraging investment in the cotton industry, incentives for good trade practices and price-risk management. SICA is to shortly finalise its nominee to take part in the Cairo meet. The inclusion of SICA member in the delegation is considered significant in the backdrop of certain cotton trade-related issues being hotly pursued by the Indian cotton trade/consuming industries in recent times. SICA, in association with the apex spinners body in the region, the Southern India Mills Association (SIMA), has been mooting an Indian cotton contract format. The association, which has in fact come out with a draft format, has been seeking legal sanctity and official recognition for its standard contract format, which takes care of the interests of cotton buyers from the Indian context.
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