Wait...
  1. Home >
  2. Exim >
  3. Information of abolishing the import duty on cotton and drawbacks on cotton exports.

Online Export Import Data Search

Complete Training Video : Click Here

Import duty on cotton, duty drwabck Rates on cotton export. latest information of cotton Import, cotton Export.


Abolishing Import Duty on Cotton and Duty Drawback Rates on Cotton Exports




With the finance ministry announced abolishing the import duty on cotton and drawbacks on cotton exports, the textile industry heaved a sigh of relief as it can source cotton from wherever it is available at affordable prices.

Welcoming the decision, the Confederation of Indian Textile Industry (CITI) chairman PD Patodia said that about 4,500 textile mills throughout the country observed a one-day closure on Wednesday to attract the attention of the government to the serious problems that the industry is facing because of unreasonably high cotton prices.

“Because of speculation in the market by international traders, not only cotton prices sky rocketed, but cotton disappeared from the market, creating an artificial shortage in spite of an all time high record in cotton production in the country”, he said.

International traders have been cornering cotton stocks on the strength of finances available to them at LIBOR rates. Because of this cotton prices in the domestic market shot up over 35 per cent as compared to last years in the same period.

Patodia said the two decisions announced by the government on Wednesday have addressed the cotton issue substantially. However, proper monitoring of cotton exports and calibration of the quantity of cotton export on the basis of domestic demand are issues that still need to be addressed. CITI is also demanding that exportable surplus of cotton should be assessed on a regular basis and export quantities should be released periodically, based on such assessment.

Source : http://www.financialexpress.com/news/textile-sector-cheers-duty-drawback-relief/333602/


Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 16-05-2019
Notification No.37/2019 - Customs (N.T.)
Exchange Rates Notification No.37/2019-Custom(NT) dated 16.05.2019

Date: 15-05-2019
Notification No. 36/2019-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg

Date: 15-05-2019
Trade Notice No. 14/2015-2020
Three months time window for applying for MEIS for shipping bills with HS Codes which were harmonized and notified under MEIS Appendix 3B, Table 2 after a delay

Date: 15-05-2019
Policy Circular No. 23/2015-20
Non-requirement of submission of Hard copy of application at RAs for issue of Advance Authorisation (AA) & EPCG Authorisation

Date: 15-05-2019
ECA Circular No. 24
Administrative Review of Adjudication Orders passed by subordinate officers - regarding.

Date: 14-05-2019
TRADE NOTICE NO. 13/2019-20
Imports of Maize (feed grade) under the TRQ Scheme for 2019-20.

Date: 14-05-2019
Notification No. 15/2019-Customs
Seeks to further amend notification No. 50/2017-customs dated 30th June 2017 to postpone the implementation of increased customs duty on specified imports originating in USA from 16th May, 2019 to 16th June, 2019.

Date: 13-05-2019
TRADE NOTICE NO. 12/2019-20
Discontinuing submission of physical copy of RCMCs with effect from 1.7.2019 while filling application for incentives/entitlements under FTP

Date: 13-05-2019
Notification No. 20/2019-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI-reg.

Date: 13-05-2019
Notification No. 21/2019-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI-reg.



Exim Guru Copyright © 1999-2019 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001