India’s readymade garment exporters want a ban on cotton exports, saying they are facing a severe liquidity crisis because of soaring cotton and yarn prices, which is making it difficult for them to deliver shipments to their foreign buyers on time. Some foreign buyers have sought up to a 30 percent discount if goods are delayed over 15 days in time or asked for air transport at their own cost, which would wipe out profits for sellers, industry sources told. The industry wants a ban on cotton exports from India to check the rising prices. India had recently banned wheat exports following a sharp rally in local prices.
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