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Govt allows cotton exports from Jan 11
10
Jan '11
The Indian government will resume the cotton exports by allocating definite quantity of cotton for traders, subject to a total ceiling of 2.5 million bales. Under current circumstances, where the domestic prices of cotton are high, the government has already set an export ceiling of 5.5 million bales for the ongoing season (October 2010-September 2011).

Earlier, the exporters had registered for cotton exports in the Office of Textile Commissioner. The actual export figures had, however, not crossed 3.4 million bales. In the meantime, the registration of the cotton exports was transferred from the Office of Textile Commissioner to the Directorate General of Foreign Trade (DGFT), which is a subsidiary of the Ministry of Commerce and deals with the trade issues.

DGFT had resumed the registration process for the remaining 2.5 million bales of cotton, which got over on January 6.

Commerce Secretary, Rahul Khullar, revealed that allocation of specific quantity of cotton for traders will be done today. He also added that, cotton exporters can start exporting cotton right away following the completion of essential procedures, under which they have to produce certain vital documents like contract papers, in order to resume the cotton exports, which is starting again from tomorrow onwards.

Fibre2fashion News Desk - India


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