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India opens new window for cotton yarn exports

02
Feb '11
The Director General of Foreign Trade (DGFT) under the Ministry of Commerce, India has opened a new window for cotton yarn exports. DGFT has now permitted balance exports of the sanctioned quota of 720 Million Kg for the year 2010-11.

It may be recalled that DGFT vide a notification dated December 22, 2010 had placed cotton yarn under ITC(HS) codes 5205 , 5206 & 5207 under the restricted category with export allowed subject to licensing.

DGFT is in the process of collecting data of cotton yarn exported during the period 1/4/2010 to 15/1/2011 and allocation will be made for the balance quantity keeping in view the decision of the government to limit the export of cotton yarn to 720 Million Kg. during the year 2010-11.

DGFT has decided to invite applications for allocation of quota for export of cotton yarn from February 2, 2010 to February 7, 2010. Allocation will be done on a pro-rata basis. The maximum that an applicant can apply is 100,000 Kg. per IEC or what has been exported by such IEC holder during 2009-10, whichever is more.

Earlier, a few days back the government had permitted exports of cotton yarn subject to the condition that the said yarn was produced from imported raw cotton.

Click here to view DGFT notification.

Fibre2fashion News Desk - India


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