On 5th May, 1962, was born Punjab Cotton Merchant Association Ltd., Which later on came to be Known as the much celebrated- The Indian Cotton Association Ltd. (ICAL), Bathinda.
Lt. Shri. V.S. Kapur was the founder President of this magnanimous association, while Lt. Shri. Hukum Chand Gupta was chosen as the Vice President. Other worthy Directors of the association included: Lt. Shri. KeshoNathKhurana, Lt. Shri. Mathura DassAhuja, Lt. Shri. Shiv Narayan Sharma, Lt. Shri. Avinash Chandra Setia and Lt. Shri. Jayantilal P. Bhatt.
Some starry glimpses from the golden history of The Northern India Cotton Association (ICAL) can be summed up as follows:
- Association’s embarked upon its journey from a office, housed in a rented building at DevSamajChowk, Bathinda.
- From 18th November 1963 onwards, the Association started publishing the ‘Daily Cotton Market Report’.
- It was on 10th October, 1973 onwards, that Association moved in to it’s own private periphery, situated in Gali No. 6, NaiBasti, Bathinda. Inauguration of which was commemorated by worthy Mr. M.K.Mohta, M.P., Managing Director- M/s Shree Bhawani Cotton Mills Ltd., Abohar. Since then the association is performing its activities from the very same place.
- The Forward Contracts (Regulation) Act 1952 was enacted on 26thDecember, 1952. Under the provision of the said Act, our association was granted permission for NTSD Contract on 20thJanuary, 1973.
- Forward Market Commission was set up in 1953.
- Future trading in cotton was banned from 1966-1998.
- The on 23rd November 1980 The Northern India Cotton Association organized the All India Trade Associations’ Conference at Hotel Sepal, Bathinda.
- The Northern India Cotton Association organized the second All India Trade Associations’ Conference at Hotel Sepal Bathinda on 26th December, 1996, which was presided over by Mr. Sajjan Kumar Jakhar, honorable minister for Cooperation & Irrigation Government of Punjab.
- In 2004-05, with a view to motivate Ginners to improve upon the quality of Ginning, the Board of Directors, decided to honor Three Best Ginner’s every year across the states of Punjab, Haryana and Upper Rajasthan.
- On 6th Jan 2006 The Northern India Cotton Association organized the All India Trade Associations’ Conference at Hotel Sepal, Bathinda.
- Celebrating 2012-13 as Golden Jubilee year of our ICALL by holding seminar.
ICAL – A unique organization, with members spread across the major sectors including Ginners, Traders, Exporters, Textile Mills and Brokers and all others associated with cotton trade. It has played a notable part not only in the development of cotton marketing in Northern India, but also in the service of the cotton economy and the textiles industry of the country.
At present ICAL’s, Board of Directors is comprised of six members From Commission Agents/Trade Panel, three members each from Exporters Panel, Textiles Mills’ Panel and Ginners’ Panel.
One Associate Directors hails from the Brokers’ Panel, while two Directors are Co-opted.
Panel wise strength of Current members is given as under:
Commission Agents – 152
Ginners – 111
Exporters – 32
Textiles Mills – 87
Brokers – 114