CITI said revoking multiple QCOs on key textile raw materials has already led to price corrections, with PSF down ₹4/kg, Lyocell prices lower by 3 per cent and yarn rates easing.
Chairman Ashwin Chandran said the move boosts fibre sourcing flexibility, supports FTAs, improves export competitiveness and helps India work towards the $100 billion textile export target by 2030.