Interviews
Registration of contracts for export of cotton by the DGFT
17 Dec '10
2 min read
In a press release issued, Shri.A.Sakthivel, President of Tirupur Exporters' Association said DGFT has issued a Policy Circular, informing that the registration of cotton exports has been changed to Directorate General of Foreign Trade (DGFT) from Textile Commissioner, Mumbai and other terms and conditions remain same.
It was the decision of meeting of Group of Ministers that 55 lakh bales of cotton should be allowed for export during the cotton season 2010-11. Actual exports commenced from 1st Nov.2010 under the EARCs granted by Office of Textile Commissioner, Mumbai, giving a time of 45 days to make such exports. It has been brought to the notice of Govt. that actual exports under such registered contracts are much less than the quantity approved by GoM.
Notification No. 12 dt.16.12.2010 has been issued, stipulating that henceforth registration of contracts for export of cotton will be done by DGFT. Exact modalities of such registration & conditions that needs to be fulfilled/observed would be notified separately, once the balance quantity that remains to be exported is ascertained.
The decision to permit export of 55 lakh bales only in the current cotton season stands. Further registration would only be done by DGFT as indicated in the notification cited above.
Shri.Sakthivel mentioned that the policy circular reveals that decision to permit export of 55 lakh bales only in the current cotton session continuous and there is no change in it.
It was the decision of meeting of Group of Ministers that 55 lakh bales of cotton should be allowed for export during the cotton season 2010-11. Actual exports commenced from 1st Nov.2010 under the EARCs granted by Office of Textile Commissioner, Mumbai, giving a time of 45 days to make such exports. It has been brought to the notice of Govt. that actual exports under such registered contracts are much less than the quantity approved by GoM.
Notification No. 12 dt.16.12.2010 has been issued, stipulating that henceforth registration of contracts for export of cotton will be done by DGFT. Exact modalities of such registration & conditions that needs to be fulfilled/observed would be notified separately, once the balance quantity that remains to be exported is ascertained.
The decision to permit export of 55 lakh bales only in the current cotton season stands. Further registration would only be done by DGFT as indicated in the notification cited above.
Shri.Sakthivel mentioned that the policy circular reveals that decision to permit export of 55 lakh bales only in the current cotton session continuous and there is no change in it.
Tirupur Exporters' Association
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