Home / Knowledge / News / Textiles / Indian govt dispenses export registration for cotton, yarn
Indian govt dispenses export registration for cotton, yarn
09
Dec '14
The Government of India has dispensed with the registration requirement for export of cotton (Tariff codes 5201 & 5203) and cotton yarn (Tariff codes 5205, 5206 & 5207), with immediate effect.
 
The Directorate General of Foreign Trade (DGFT), Department of Commerce, Ministry of Commerce and Industry, has issued two separate notifications on amendment in export policy of cotton and cotton yarn.
 
The amendment in export policy of cotton says the export of cotton neither carded nor combed (Tariff code 5201) and cotton, carded or combed (Tariff code 5203) is made free without any restrictions.
 
Similarly, the notification on amendment in export policy of cotton yarn removes all restrictions on export of cotton yarn under three tariff codes—5205 (cotton yarn other than sewing thread, containing 85 per cent or more by weight or cotton not put up for retail sale; 5206 (cotton yarn other than sewing thread, containing less than 85 per cent by weight or cotton not put up for retail sale); and 5207 (cotton yarn other than sewing thread, put up for retail sale).
 
Until these notifications were issued, it was mandatory for exporters to register with the DGFT in advance mentioning their targeted export volume for the year.
 
During the current cotton season that began on October 1, 2014, India is likely to produce a record 40 million bales of 170 kg each, and is most likely to overtake China as the world’s largest cotton producer.
 
On the other hand, India’s cotton yarn exports are forecast to drop by as much as 24 per cent to about 9 million bales this season mainly due to weak Chinese demand, according to the Cotton Advisory Board (CAB).
 
The latest regulation is expected to help stabilise cotton prices in India’s domestic market, where the prices in some states are currently ruling below the minimum support price (MSP) announced by the Government.
 
Meanwhile, T Rajkumar, chairman, The Southern India Mills’ Association, has thanked the Government for bringing cotton yarn exports under free list. He said the removal of mandatory export registration is a first step in the right direction towards achieving the mission of ‘Make in India’ set by Prime Minister Narendra Modi and also identifying the manufacturing sector, particularly the textile industry as the key area for strengthening the Indian economy. (RKS)
 

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 5th Dec 2019

Vietnam, Egypt should resolve issues to raise trade: MoIT

The two-way Egypt-Vietnam trade value of $470 million last year does...

Pic: Lenzing

Textiles | On 5th Dec 2019

Lenzing has vision towards net-zero CO2 emissions by 2050

The Lenzing group, a recognised leader in climate action, recently...

Pic: Shutterstock

Textiles | On 5th Dec 2019

Pak releases Rs 81.132 mn for textile industry development

Pakistan's ministry of planning development and reforms has so far...

Interviews View All

Sunil Rathore, Lacoste India

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Nitin Bhatia, Trend Arrest

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Textile industry, Head honchos

Textile industry
Head honchos

Athleisure is the current buzzword in fashion

Karen Lou,

Karen Lou

Australia-based Sunseeker has been creating swimwear since 1970. Sunseeker ...

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries is into manufacturing of textile process house machines, ...

Ashish M Amin,

Ashish M Amin

Premier Looms is a leading provider of cutting-edge machinery and...

Ashok Desai, Bombay Textile Research Association

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Andreas Lukas, Andritz Nonwoven

Andreas Lukas
Andritz Nonwoven

With forces in engineering and process development, Andritz Nonwoven...

Johan Berlin, InvestKonsult Sweden AB

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


December 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search