Welcoming the decision of the Government to allow export of 720 million Kgs of cotton yarn during the current fiscal, Mr. Ramu S Deora, President, Federation of Indian Export Organisations (FIEO) said that this will provide respite to the cotton yarn exporters who were waiting for the same since long and have accumulated large stocks in anticipation of exports .He complimented Shri Anand Sharma, Commerce & Industry Minister for the same.
Mr. Deora said that he expects that allocation of quantities to the applicant exporters will be expedited and scrutiny of the Letter of Credit or Foreign Inward Remittance Certificate, if required, should be done on priority by DGFT giving adequate time to exporters to make the shipment of the requisite quantities.
FIEO Chief observed that export of cotton yarn will assist in increasing our exports for 2010-11 which is all set to cross FIEO target of US$ 225 billion as we have already touched US$ 208 Billion by Feb 2011. Mr Deora said that our dream of realizing US$ 500 Billion by 2014-15 wil definitely come true.
Federation of Indian Export Organisations (FIEO)
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