Government bans cotton exports

In order to increase the supply of natural fibre in the domestic market of India, the Government has banned exports of cotton. In reference to this a notification was issued by the DGFT (Directorate General of Foreign Trade). The exports against registration certificates already issued will not be permitted.

Already India has exported about 85,00,000 bales (170 Kg each) of cotton in the present marketing year (October-September). Inidia had shipped 66,00,000 bales overseas in the 2010-11 marketing year. 3,55,00,000 bales of cotton production is projected in the 2011-12 season. In August, the Govt had removed limitations on the export of Cotton and allowed till September 2011 the shipments under OGL.

Month: Current Affairs - March, 2012