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Govt prohibits 178 companies from exporting cotton
30 Jun '11
1 min read
The Director General of Foreign Trade (DGFT) has issued a notification debarring 178 companies from future cotton exports, citing their failure to comply with the export norms.
Earlier this year, the Government had given permission to 928 companies for export of cotton. But, 178 of these companies exported either lower or higher quantity than the permitted limits. Some of these companies even failed to export a single bale (1 bale = 170 kg) of cotton.
The 178 exporters who are prohibited from future cotton exports will not be considered while deciding allocation for export of one million bales of cotton, sanctioned by Government earlier this month.
Earlier this year, the Government had given permission to 928 companies for export of cotton. But, 178 of these companies exported either lower or higher quantity than the permitted limits. Some of these companies even failed to export a single bale (1 bale = 170 kg) of cotton.
The 178 exporters who are prohibited from future cotton exports will not be considered while deciding allocation for export of one million bales of cotton, sanctioned by Government earlier this month.
Fibre2fashion News Desk - India
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