The Indian government is to lift controls on the export of raw cotton, in a decision that will end the current requirement that only allows exports with a licence from India’s directorate general of foreign trade.
From 1 October, contracts to export cotton only need to be registered with the Textile Commissioner prior to shipment, according to a notification issued by the Directorate General of Foreign Trade (DGFT). It adds: “Clearance of cotton consignments by Customs should be after verifying that the contracts have been registered.”
New export contracts can be registered from 1 September.
The government in April announced it was banning exports of raw cotton that had not already been registered, in an attempt to halt soaring price hikes and exports.
It also imposed monthly limits on the amount of cotton, even under registered contracts, that could be exported, and continued its earlier-announced tax on raw cotton exports.
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