The Xinjiang region produces nearly 20% of the world's cotton & 84% of China's cotton.
The bill will now move onto the senate and then to the President of the USA for it to be officially signed into USA law.
Pakistan exports reduction :Pakistan too is facing trouble in its textiles exports owing to various domestic problems such as energy crisis due to delayed imports of gas and depreciated value of the Pakistani rupee which has led to high costs of fuel imports raising the cost of production.
Overall these developments bodes extremely well for the textiles players in India as combined with this there is also textiles parks on the anvil from the government of India and PLI scheme will provide export incentives to the Indian companies to make them globally competitive.
However, owing to the dramatic run up of cotton prices across the world including India (cotton prices up more than 50% in india currently as compared to last year cotton season) and also the yarn prices lagging the commensurate increase as compared to last quarter would lead to margin squeeze qoq, the players to benefit the most from these developments will be the *vertically integrated textile players like KPR, Arvind Ltd., Banswara etc and pure convertor companies like Gokaldas. Please use your discretion before buying any stock. However cotton spinners may not benefit from the same.
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