After the meeting, Union Trade and Textile Minister Anand Sharma announced that new registrations for the export of cotton would not be accepted. However, the pending contracts for cotton exports would be executed, which is recorded at approximately two million bales.
In addition, the GoM has directed the Cotton Corporation of India (CCI) not to go ahead with its previous plan of buying one million bales of cotton from the domestic market at the rate of INR4,500 per quintal. The group did not reach a decision over a procurement price for cotton for the CCI, but agreed that the price would be approved later by the Cabinet.
Export of cotton from the country was banned on March 5, 2012, fearing a shortfall of the commodity in the domestic market. Severe criticism from states like Gujarat and Maharashtra and other countries led to a partial lifting of the ban on March 12.