TEA requests to allow cotton exports only from January 2011-Texglobe

TEA requests to allow cotton exports only from January 2011

Updated: 2010-8-18 Source: Texglobe

Directorate General of Foreign Trade (DGFT), Ministry of Commerce, New Delhi has issued a notification (17.8.2010), stating that the cotton exports has been brought under Open General Licence (OGL) of export policy and only restriction is that the contracts for export of cotton shall be registered with the Textile Commissioner prior to shipment and clearance of cotton consignments by Customs, after verifying that the contracts have been registered. The cotton export is permitted from 1st October 2010.

Shri.A. Sakthivel, Tirupur Exporters’ Association (TEA)President said the permission of cotton exports from 1st October 2010 will cause a disastrous situation to the whole textile industry, especially to the Tirupur knitwear export sector and added that due to uncontrolled cotton exports in last year (2009-10), the cotton yarn prices also increased and caused a big impact on Tirupur knitwear export sector.

Shri.Sakthivel mentioned that he has sent a representation to Shri. Anand Sharma, Hon’ble Union Minister for Commerce and Industry requesting him to review the situation and not to permit the cotton exports from 1st October 2010 and added the cotton exports has to be celebrated and allowed only from 15th January 2011 onwards.