Home / Knowledge / News / Textiles / Restore export benefits for cotton yarn: CITI
Restore export benefits for cotton yarn: CITI
26
Sep '13
Confederation of Indian Textile Industry has requested government to restore export benefits under Focus Market Scheme and Incremental Export Incentivisation Scheme on cotton yarn.

Reacting to the Notification No.43 (RE-2013)/2009-2014 dated 25th September 2013 issued by DGFT withdrawing these benefits on certain products including cotton yarn, Mr. Prem Malik, Chairman CITI observed that there is no export restriction or export duty on cotton yarn.

There is only a requirement of registration of export contracts with the DGFT which is only for the purpose of data collection on exports. Thus, withdrawing the export incentives on the ground that there is restriction on export is incorrect in this case, he added. 

Mr. Prem Malik stated that cotton yarn is an industrial product and its production has been increasing substantially in the country. Since the domestic demand has not kept pace with the increasing production, there has been a decline in cotton yarn prices in the domestic market in recent weeks. He stressed that India is the most competitive yarn producer in the world at present and therefore there are increasing export opportunities opening up for our cotton yarn.

Referring to the urgent need to bridge the Capital Account Deficit, Chairman, CITI observed that textile products, including cotton yarn, have increasing demand in the overseas markets and it will be logical to encourage export of cotton yarn from the point of view of bridging the CAD, in addition to creating additional employment.

Confederation of Indian Textile Industry


Must ReadView All

Courtesy: BekaertDeslee

Textiles | On 23rd Oct 2017

BekaertDeslee to expand North American facility

BekaertDeslee, one of the largest manufacturer of mattress textiles...

Courtesy: A&E

Textiles | On 23rd Oct 2017

A&E unveils Magic using Repreve sewing thread

American & Efird (A&E), a leading developer of industrial and...

Courtesy: Messe Frankfurt

Textiles | On 23rd Oct 2017

Over 4,000 exhibitors attend Intertextile Shanghai 2017

Another successful Intertextile Shanghai Apparel Fabrics has wrapped...

Interviews View All

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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

October 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

Active Poll

Do you see sustainability as a route to business growth?

Yes
76.1%
No
12.7%
Skip
11.3%

Total Votes: 71

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

Yes No

Active Poll

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

Yes
62.0%
No
28.2%
Skip
9.9%

Total Votes: 71

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

Yes No

Active Poll

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

Yes
85.9%
No
9.9%
Skip
4.2%

Total Votes: 71

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

Active Poll

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

Yes
76.1%
No
11.3%
Skip
12.7%

Total Votes: 71


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