Home / Knowledge / News / Textiles / Assessment of cap on cotton exports in Nov
Assessment of cap on cotton exports in Nov
07
Sep '10
India's Commerce Secretary, Rahul Khullar has confirmed that the maximum limit of cotton export, which is going to be in effect from next month, will be assessed in November. Consignments which cross this limit will draw repressive levies which will be set by the revenue and commerce departments afterwards.

He further added that as of now 5.5 million bales of cotton will be exported in 2010-11. But this decision will be subjected to assessment on 15th November, 2010.

The Cotton Association of India, which represents the cotton exporters, desires to have a cotton export ceiling limit of 7.5 million bales, since the country has sufficient additional cotton which can be exported to other countries.

According to Dr Khullar, a better scenario of industrial output, demand and price will develop by 15th November. The much required registration of export contracts will be initiated by the Textiles Commissioner from 15th September and exports will be registered on first-come-first-serve basis.

He further added that no restriction or obligation of license will be imposed on the exports of cotton up to a limit of 5.5 million bales but beyond this limit, exporters will have to pay an export levy as the ceiling has been set at this limit from 1st October.

The decision to permit free cotton export was arrived at a meeting attended by the Commerce Secretary – Khullar, Agricultural Secretary – P K Basu and Textiles Secretary Rita Menon on 1st September.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 29th Apr 2017

EU rules needed to curb textile worker exploitation: MEPs

European Union (EU) rules are needed to oblige textile and clothing...

Apparel/Garments | On 29th Apr 2017

US retail operating growth to be 1.5-2.5% in 2017: Moody's

The forecast for operating income growth in the US over the next 12...

Interviews View All

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Amrit Sethia
SOIE

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

Lynda Kelly
Suominen Corporation

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

Larry L Kinn
Suominen Corporation

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

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Tony Ward
Tony Ward

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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



X