CURRENT AFFAIRS

Detailed explanation-1: -Notes: The Cotton Corporation of India (CCI) is to set up its own Cotton warehouse in Vietnam, to boost Exports. A government-to-government Memorandum of Understanding is also being prepared to export 1.5-2 million bales of cotton to Bangladesh.

Detailed explanation-2: -The Cotton Corporation of India (CCI): A Friend to Cotton Farmer & A Dependable Supplier of Cotton to the Textile Industry. CCI was established on 31st July 1970 under the administrative control of Ministry of Textiles, Government of India as a Public Sector Undertaking under the Companies Act 1956.

Detailed explanation-3: -CCI is a public sector agency responsible for equitable distribution of cotton among the different constituents of the industry and aid imports of cotton. It was incorporated on 31 July 1970 under the Companies Act 1956. CCI is governed by Textile Policy 1985 issued by the Ministry of Textiles, Government of India.

Detailed explanation-4: -Now, the major role of the CCI is to undertake price support operations, whenever the market prices of kapas fall below the minimum support prices (MSP) announced by Govt. of India, without any quantitative limit.