Home / Knowledge / News / Textiles / Govt declares 5% duty incentive on cotton exports
Govt declares 5% duty incentive on cotton exports
Feb '09
The Directorate General of Foreign Trade in a notice put up on its website mentions that a 5 percent duty incentive is available on exports of raw cotton, effective from April 1, 2008 till June 30, 2009.

This has been made possible by including raw cotton under the Vishesh Krishi Gram Udyog Yojana (VKGUY). This scheme has been launched for the promotion of exports mainly farm produce.

Experts have ridiculed this move of the government by saying that it would be equivalent to subsidizing cotton purchased by other competitor countries like China, Pakistan and Bangladesh from India.

As it is cotton production figures are expected to drop by 9.94 percent in the current cotton season and touch 29 million bales (1 bale=170 kg) instead of the 32.2 million bales projected by the government in October last year.

This decision of the government has invariably pushed up prices of the white gold as had been suggested by experts. In early morning trades on February 18, cotton prices zoomed by Rs 250-300 per candy (1 candy=356 kg) in the Gujarat cotton markets.

Fibre2fashion News Desk - India

Must ReadView All

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Pakistan's Finance Minister Mohammad Ishaq Dar presenting Budget 2017-18 in National Assembly in Islamabad on May 26. Courtesy: PID, Pakistan

Textiles | On 27th May 2017

Pakistan Budget 2017-18 proposes 4 new measures

To support the textile sector in Pakistan, finance minister Mohammad...

Textiles | On 27th May 2017

Indian exports can touch $325 bn in 2017-18: FIEO

Indian exports are on upward trend in last few months as the country...

Interviews View All

Sonia Agarwal

‘The terms eco-friendly and organic are common but everyone perceives them ...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Rupa Sood and Sharan Apparao

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
May 2017

May 2017

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


Browse Our Archives


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