India to sell cheap cotton products to US, European firms
India is expected to sell a cheap, organic cotton fabric in a bid to diversify its imports.
The country has already begun to buy cotton from US and European firms.
India’s government said on Wednesday it would begin selling cotton fabrics made from organic cotton at domestic and wholesale outlets and to wholesalers in the country.
“The new products will be available to the Indian consumers through the wholesaler channels and will be made available to wholesale customers at local and wholesale level,” the government said in a statement.
In 2016, the government had launched a scheme to boost the cotton industry, which now employs around 300,000 people.
Earlier this month, it announced plans to sell cotton in the US at wholesale prices and to sell it to US and EU firms.
The US has been buying cotton from India since the 1970s, and has since shifted to using it in its factories.