Pathetic show that the main head of the segment that would be affected by the decision was unaware, and it has been notified, which automatically affected the sales.
The Agricultural Minister Sharad Pawar expressed his anguish over the proposed ban on cotton exports. He instantly sought the Prime Minister Manmohan Singh’s intervention over the issue. And, has written a letter for revocation of the ban. Addressing the media on the sidelines of ICAR Conference the NCP leader said "I was kept in dark on the issue. I came to know about this only after a notification was issued by DGFT." The minister felt that this would affect the farmers directly as the merchants have stopped procurement already. But the government feels that this move shall boost local sales.
A source says that though the ban will have an immediate negative effect, but on the long run will improve the domestic markets. As most exports are done at cut throat margins and most time at loss. The way that the exporters thrive is by way of import incentive package offered by the government. This ulterior move will enhance local business and the competition would also be healthy. (With inputs from internet: AarKay)