| Date: |
30-09-2010 |
| Subject: |
November to Restart of Cotton Export |
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The Indian government has decided that it will again allow for export of cotton from November 1. This is being done since there has been a good monsoon this year and thus the production too has turned out to be good.
A high powered Cabinet ministerial committee had taken the judgment regarding the topic which was chaired by the Finance Minister and Agriculture Minister, Commerce Minister and also the Textiles Minister.
From October1 registration for exports of cotton will begin. No export duty on exports till 5.5 million bales (170 Kg/bale). The Cotton Association, in reply to the move, was the first one to break the news. It also said that it is in direct support of the measure that the government has taken with respect to exports.
The association further added that exports will bring about stability in market and will also help the textile sector as a whole. Rise in production is the major reason behind this which is expected to rise further and reach 5.53 million tons. India is also going to import 0.09 million metric ton of cotton during 2009-10.
Source : topnews.in
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