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DGFT to henceforth register cotton export contracts
18
Dec '10
In a notification issued by the Directorate General of Foreign Trade (DGFT), it will henceforth register, inspect and certify all future raw cotton exports from India.

In India, DGFT is the apex authority with respect to registering, inspecting and certifying all kinds of export goods from India.

However, in August, DGFT had transferred these powers to the Textile Commissioners Office, which works under the supervision of the Textile Ministry.

As of now, no new dates for registrations have been announced by DGFT nor any new quotas for raw cotton exports have been made known by the government.

With respect to extending the deadline for exporting registered raw cotton contracts, which got over on December 15, the government has still not issued any new guidelines.

The Textile Commissioners Office had registered 5.5 million cotton bales (I bale = 170 kg) meant for exports and had set a deadline for shipping the same by December 15.

However on December 15, it was noted that only 3.02 million bales out of 5.5 million had actually been exported.

Fibre2fashion News Desk - India


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