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India's cotton imports from Australia multiply over past year

Although India and Australia had entered into the Economic Cooperation and Trade Agreement (ECTA), which came into effect in the last week of ****, this increase in imports was caused by the unusual rise in prices. The agreement provides for duty-free imports with quantitative restrictions, but the high prices last year led to an increase in imports. 

According to *f&utm_medium=ballripple&utm_campaign=Texpro_****" target="_blank">Fibre2Fashion&#**;s market insight tool TexPro, India&#**;s textile industry imported **.*** million kg (***,*** bales of *** kg) of cotton last year, valued at $***.*** million. This represents a *.**-fold increase in value and a *.**-fold increase in volume compared to the previous year when imports were valued at $**.*** million (quantity **.*** million kg). Cotton imports peaked at $***.*** million (**.*** million kg) during the third quarter of last year, when Indian cotton prices were still very high, well before the arrival of the new crop.