Comments
The government today eased quantitative restrictions for export of cotton by the Cotton Corporation of India (CCI) to help boost shipments of the fibre in the current marketing year ending next month.
“Certain conditions regarding export of cotton have been relaxed for the Cotton Corporation of India Ltd during the current cotton season 2012-13,” Directorate General of Foreign Trade (DGFT) said in a notification. CCI is a public sector undertaking under the Ministry of Textiles.
At present, exporters can apply for registration certificate (RC) for a maximum quantity of 30,000 bales or actual quantity exported in the previous cotton season, whichever is less. One bale contains 170 kg of cotton.
Now, CCI has been exempted from this norm for the cotton marketing season that runs from October-September.
The country’s cotton exports have been declining and are estimated to be lower than last year’s total shipments of 11.5 million bales.
India, the world’s second largest cotton producer, is estimated to harvest 34 million bales in the 2012-13 crop year which is from July-June.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.