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Registration of export contracts to begin from Sept 15
09
Sep '10
Online registration of cotton exports contracts will begin soon in Textile Commissioner's office.

According to the Textiles Commissioner, the online system will be functional from 15th September. The process of submitting applications by hand delivery, post or courier will cease as soon as the online system begins to operate.

Registration of export contracts by the exporters is essential before the shipments are sent out. This system will enable the exporters to have an idea about the position of their applications, and let the Govt. keep a check on the shipments departing from the country.

This will facilitate the exporters as the Government has permitted them to export cotton up to a limit of 5.5 million bales from 1st October.

The decision, to adopt the online registration system and to eliminate the restraints on exports, was arrived at a meeting held on 1st September, which was attended by the Commerce Secretary – Khullar, Agricultural Secretary – P K Basu and Textiles Secretary – Rita Menon.

The ceiling on the export of cotton up to a limit of 5.5 million bales could, however, be raised, lowered, or new export regulations may be brought into force, after the assessment of cotton production estimates, its demand in the local market and its prices, on 15th November.



Fibre2Fashion News Desk - India


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