India, Australia sign MoU to boost cotton trade and collaboration

The Cotton Association of India (CAI) and the Australian Cotton Shippers Association (ACSA) have signed a Memorandum of Understanding (MoU) aimed at enhancing mutual cooperation in cotton production, trade, pricing, and market outlook. The agreement was signed by CAI President Atul S Ganatra and ACSA Chair Cliff White during an Australian trade delegation's visit to India.

The MoU sets the stage for increased dialogue and exchange of ideas between the two nations' cotton sectors, strengthening bilateral trade and improving market access. It also aligns with the Australia-India Economic Cooperation and Trade Agreement (AI-ECTA), which came into effect on 29 December 2022, offering duty-free access for 51,000 tonnes of Australian cotton into India annually.

ACSA’s chair Cliff White presented an overview of Australia’s cotton industry to Indian stakeholders including farmers, ginners, and brokers at the meeting. CAI President Ganatra stressed on the importance of closer cooperation and deeper commercial ties between the two countries, calling the MoU a milestone for sustainable and mutually beneficial cotton trade.