Home / Knowledge / News / Textiles / DGFT tightens policy for cotton exporters
DGFT tightens policy for cotton exporters
21
Jun '11
Applications for the export of one million bales (1 bale = 170 kg) of cotton have been invited by the Directorate General of Foreign Trade (DGFT), under the aegis of the Ministry of Commerce, Government of India.

The DGFT will accept applications for a week beginning 20 June 2011. The invitation for applications follows the recent sanction of an additional one billion bales of cotton for export by the Group of Ministers (GoM) for the current cotton season ending September 2011.

To control the entry of opportunistic and non-serious traders, the agency has this time tightened regulations, besides deciding to accept applications only from reputed exporters.

Companies which successfully exported cotton in 2008-09 and 2009-10 seasons are eligible for application. Also, the banks' letter of credit (LC), issued in favour of exporters, stands irrevocable. It means that the name on the LC cannot be changed or transferred.

The DGFT has put a ceiling of 4,250 tons or 25,000 bales of cotton as the maximum permissible quantity for application. The agency will decide on allocation on a pro-rata basis.

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Michael Kors

Fashion | On 25th Jul 2017

Michael Kors to acquire Jimmy Choo

Global fashion luxury brand Michael Kors Holdings Limited has reached ...

Apparel/Garments | On 25th Jul 2017

VF Corp posts $2.4 billion revenue for Q2 2017

VF Corporation has recorded revenue of $2.4 billion, up 2 per cent,...

Textiles | On 25th Jul 2017

Egypt signs agreement with UNIDO for cotton production

Egypt has signed a €1.5 million ($1.74 million) cooperation agreement ...

Interviews View All

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X