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Raw cotton exports to resume from Nov 1
29
Sep '10
The Government of India has now decided to permit exports of raw cotton from November 1, instead of the earlier decision to resume them from October 1, 2010.

This was divulged by the Textile Secretary, Ms Rita Menon, who said that the Group of Ministers (GoM) decided to permit exports of up to 5.5 million bales from November 1.

However, she added by saying that, registrations of export contracts will begin from October 1, as was decided earlier.

The GoM had a tight rope walk, as it was under intense pressure from both the extreme ends of the textile value-added chain, the cotton exporters as well as spinners and clothing exporters.

The GoM also decided not to levy any regulatory duty on exports of the 5.5 million bales; however it will be up for review on October 15, depending on the crop estimates that would be available by then.

Fibre2fashion News Desk - India

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