Industry

Textiles units hail govt move

Now, cotton and cotton yarn have been brought under the free list. File photo: K. Ganesan

Now, cotton and cotton yarn have been brought under the free list. File photo: K. Ganesan  

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The textile industry has welcomed the government’s notifications, removing mandatory registration for export of cotton and cotton yarn.

Southern India Mills’ Association Chairman T. Rajkumar said in a press release that the government brought in quantitative restriction and mandatory registration for export of cotton in the 2010-11 cotton season when there was a global shortage of cotton.

Later, it removed the quantitative restrictions, but continued with mandatory registration.

Now, cotton and cotton yarn have been brought under the free list.

When registration was mandatory, mills had to export the registered quantity within 30 days and furnish data with various documents. Removal of mandatory export registration was a step towards achieving the Make in India mission, he said.

Cotton Textiles Export Promotion Council Chairman R. K. Dalmiasaid that it was a proactive step, which would reduce transaction costs for the exporters of cotton yarn.

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Printable version | Jan 22, 2020 5:17:00 PM | https://www.thehindu.com/business/Industry/textiles-units-hail-govt-move/article6676872.ece

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