Cotton Current Affairs - 2020

Khadi Masks gain Global recognition and demand

The Khadi and Village Industries Commission (KVIC) explore the possible option of exporting silk and cotton face masks to foreign countries. This is being done to promote “Vocal for Local”, that was initiated under Atma Nirbhar Bharat Abhiyan.

Highlights

So far, the KVIC has received 8 lakh orders of masks and has supplied 6 lakhs during Lock down period. With overwhelming responses in India, KVIC is to expand the khadi masks globally. The plan is to supply Khadi Masks to countries such as USA, Dubai, Mauritius, middle east and to several other European countries.

Significance

The export of Khadi masks will help to increase production and ultimately help boost employment. As the masks are cost effective, breathable, reusable, washable and bio-degradable, their demands are increasing globally.

Also, their efficiency is high as they are made of double twisted Khadi fabric.

Why are cotton masks more comfortable?

The double twisted fabric helps retain moisture and creates easy passage for air. This makes cotton fabric more comfortable to wear. On the other hand, synthetic masks are not porous. Hence do not allow passage of air. It does not absorb the sweat as well. Hence, wearing synthetic masks increases perspiration and creates discomforts and itching forcing the users to touch or adjust the mask.

GoI: Rebate of State and Central Taxes Scheme in the form of Scrips

On May 1, 2020, the Government of India announced that the Rebate of State and Central Scheme arrears are to be provided in the form of scrips. It is to be provided by the Department of Revenue Communication.

Highlights

The ROSL scheme was discontinued in March 2019. The scheme was replaced with Rebate of State and Central Taxes and Levies Scheme. The arrears to be provided in the form of scrips is to benefit many of the cotton textile exporters.

What is a scrip?

Scrip is a certificate that is subscribed to a bank or an individual entitling the holder a part of dividend or an amount of money.

ROSL scheme

The scheme supported apparels and made ups. The state and central taxes continue to be present in the cost of exports. The scheme rebates state and central taxes. This will include more than 56% of India’s textile export basket. The aim is to make the textile sector competitive.

Cotton Export

Cotton fabrics and yarn account to 23% of total textiles and apparel exports in India. In 2018-19, the total cotton production was 28.7 million bales. In the same year, the cotton clothing exports were 36.62 billion USD. India exports cotton and cotton products mainly to UAE, US, UK, France.

USA is the major exporter of cotton in the world.