Coimbatore Cotton Association, Coimbatore
Even though cotton trade was existing since many years in Coimbatore,there was no formal association where traders or brokers could meet and discuss matters of mutual interest.However,during the year 1970,the Government Of India started the Public Sector undertaking in the name of Cotton Corporation of India with the object of participating in buying and selling of cotton.The proclaimed object of the Cotton Corporation of India was no intervene in the market, i.e. to buy when the markets are low and sell when the markets are high- thus exercising a stabilizing influence on prices.But the way in which this corporation was formed and the socialistic trends prevailing at that time in the country created a sense of insecurity in the minds of cotton traders that their trading activities could be in jeopardy. It was under these circumstances that Late Sri S.Venkat Rao and a few of his fellow traders / ginners decided to organize this Association. It was in the year 1970,the Coimbatore Cotton Association was formed.Most of the cotton traders enrolled themselves as members. The central Goverment canalized the cotton imports through Cotton Corporation of India and traders were kept away. Similarly,the internal trade in the state of Maharastra State Cotton Monopoly Procurement Scheme.
In the following years the association started establishing liaison with Cotton Corporation of india as well as Maharastra State Co-Operative Marketing Federation also. The Maharastra State Co-operative Marketing Fedration also. The Maharashtra State Co-operative Marketing Federation started interacting through the member of the association in their marketing activities. During the year 1971 a beginning was made to publish periodical newsletters. Slowly but steadily,the association started arranging meetings with the object of developing cotton cultivation and problems which arose periodically in cotton trade.
The association also started expanding their activities in representing the problems of cotton growers and cotton ginners with the Coimbatore Market Committee Yards. There were many hurdles in complying with regulations on issue of market committee.permits etc.At certain times, when things were taken to the brink by the growers as well as the authorities, the association could exercise restraint on them and bring about smooth solutions.
Another notable incident happened when Goverment of India Brought cotton Gining as one of the activities covered under Traffic 68 of the Central Budget and subjected ginning factories for levy of excise duty. Many organizations tried to represent this matter to the goverment of India. The Coimbatore Cotton Association was able to get appointment with the then Finance Minister and succeeded in convincing him and his team of secretaries to remove cotton ginning from the list. For this Purpose the Coimabatore Cotton Association sent a delegation to new Delhi who returned back successfully. The benefit of this action was available for the cotton ginners throughout the country. The Coimbatore Cotton Association was also invited to attend the mettings of the Cotton Advisory Board.
During in the year 1976,The forward markets Commission, Goverment of India decided that an association has to be formed in South India in which coton traders,textile mills,cotton growers and cotton brokers became member.The association would be recognised by the Government of India for regulating NTSD contracts in cotton. Detailed Southern India Mill Owner's Association and the forward Markets Commission.As a result,a new association in the name of the south India Cotton Association came in to being in the year 1979. We are happy that this association has been Serving the interests of cotton trade to the satisfaction of its founders.
With the formation of the South India Cotton Association,most of members of our association became members of the south india cotton Association.Hoping that this one association will serve the purpose of all concerned in the trade. Practically many members felt that they did not have much of a voice. And their interest will be served with the revival and continuation of Coimbatore Cotton Association. This task was taken up by past president Naresh Merchant and his secretary Hiren N.Desai with the Help of Bhawarlal Sutalia,Shankarlal Sharma and Narendra Lodaya.
With the revival work of the Coimbatore Cotton Association in a steady pace. The members decided to felicitate and honour senior member member who have put in 40 to 50 years in the cotton trade.Every year we feliciate senior members who have been recommended by the executive members.
The Executive Committee meets once in a month when 25 members attend the meeting. We also meet every 3rd Monday and all members of the Association are invited for the same. Here members are free to discuss problems and also give solutions if possible in a free and pleasent atmosphere. We generally discuss the cotton crop and financial position of the mills.O nce in three months a prominent guest from the trade/Industry is invited to present his views.
Presently our life members are around 200. The revival has been due to the efforts of each and every member of the executive committee, the Advisory board to the committee and special invites who all have played an important roll.
The Coimbatore Cotton Association however continued to maintain their activities,which was found to be very essential by many cotton trader and cotton brokers.Recently, the All India Trade Conference was held in Coimbatore in the year 2001. This is an annual event sponsored by East India Cotton Association,Mumbai. The event was organizes in Coimbatore on an All India scale and was attended by dignitaries and cotton traders from all over the country.