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Indian govt has no plans to ban cotton yarn exports
09 Mar '12
1 min read
The Government of India has clarified that it has not imposed any ban on cotton yarn exports and it does not have any intention to do so.
Textiles Secretary Kiran Dhingra said imposing quantitative ceilings or subjecting exports to taxes is a preventive measure, while the Government believes in maintaining equilibrium among all industry segments.
After the Central Government banned cotton exports, there were strong rumors of ban on cotton yarn exports.
Hence, the announcement by the Government negating the likelihood of banning cotton yarn exports has brought some respite to the cotton yarn exporters.
India's yarn export estimates for the current fiscal have been pegged at 900 million kg, but the actual shipments have been much lower.
Textiles Secretary Kiran Dhingra said imposing quantitative ceilings or subjecting exports to taxes is a preventive measure, while the Government believes in maintaining equilibrium among all industry segments.
After the Central Government banned cotton exports, there were strong rumors of ban on cotton yarn exports.
Hence, the announcement by the Government negating the likelihood of banning cotton yarn exports has brought some respite to the cotton yarn exporters.
India's yarn export estimates for the current fiscal have been pegged at 900 million kg, but the actual shipments have been much lower.
Fibre2fashion News Desk - India
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