KARACHI - Head of International Textile Manufacturers Federation Bashir Ali Mohammed has slammed Indian exporters for reneging on their commitments on cotton orders and expressed grave concern over India Government decision to ban cotton export. In a letter addressed to Indian Textile Minister as head of the international body, Bashir Ali Mohammad currently in Sao Paulo (Brazil) where he chaired the annual general meeting of the world body has expressed his unease over the decision by the Government of India to restrict the export of cotton since April 2010, according to a news release issued here Tuesday. The ITMF has urged the Indian government to honor the sanctity of the contract and refrain from unpredictable and unlawful interventions in the international cotton exports from India that have already been concluded. By applying a predictable cotton policy, the Government of India can assist in providing a stable international business framework. Bashir has pointed out that the increase in the prices of cotton was not unusual if those were market driven and within the international laws and regulations. However, restrictions that have been placed by the Government of India, in the forms of delays or bans of cotton exports for already concluded contracts are unacceptable. Bashir in his letter has also reminded that trade sanctity of the contracts were fundamental rule and therefore must be preserved at all times. The intervention by the Government of India was undermining the sanctity of the contract as a result distorting the international cotton and textile markets that in turn is negatively affecting large parts of the global textile and cotton sector. At the same time the restrictions are also shedding unfavorable light on the Indian cotton industry as well as on the international cotton industry as a whole and damaging the good image of cotton. The ITMF at its annual general meeting has voiced concern over soaring cotton prices and their negative implications for international cotton textile value chain from fiber to fabric. In a communiquT, the ITMF has stated that the global textile industry was not in a position to absorb any longer cotton price increases of unprecedented dimensions recorded during the past months without risking its own existence. The ITMF has called upon the retail industry to change its business model to this new business environment of higher raw material prices. For the past 20 years, the global textile industry has been exposed to a deflationary environment with nominal prices for apparel and home textiles having fallen during this period on average by approximate 50pc. This trend is not sustainable anymore and has to be reversed, the communiquT added. A number of factors have already put the international textile industry in a predicament. Lower than expected cotton crop and stronger than expected demand in many countries have already driven the prices of cotton from US cents 60 to 120 in October this year. In this background, the communiquT added the ITMF has invited retailers, department stores and distributors around the world to discuss with their suppliers the fundamental changes taking place in the global textile value chain in order to better understand the risks and threats involved for all stakeholders and to develop strategies that allow for a healthy and a viable textile chain.