INDIA: Ceiling on yarn exports lifted

India: The recent export ceiling imposed on yarn manufacturers has been lifted, subject to some conditions, on makers of value-added speciality yarn and technical yarn. 

In another relief for one category, exports of cotton yarn made from imported cotton will not need a certificate from the excise authority if the imports were done on or after October 1, 2010. Certification from the Directorate General of Foreign Trade (DGFT) would suffice. 

The government had, around three months earlier, imposed an export ceiling of 720 million kg on cumulative cotton yarn exports for the current financial year, ending March 31. It did so at the urging of garment makers, who were apprehensive on yarn pricing and availability. 

The relaxation referred to earlier came around a week before, in a circular issued by the ministry of commerce. DGFT has exempted all export-oriented units and textile units engaged in manufacturing value-added speciality yarn and technical yarn from the ceiling, as long as they can show they’d been exporting for the past two years. 

The total production of speciality and technical yarn is about 50-60 million kg yearly, a small proportion of the 3,600 million kg of yarn of all kinds produced in India. But this manufacture is predominantly export-oriented. 

S P Oswal, chairman of the Oswal Spinning and Weaving Mills, a company with a prominent share in speciality and technical yarn, said the export cap had rendered capacities idle. ‘Domestic demand is miniscule, so there is thorough dependence on the export market,” he said. 

The government just understand, he added, that intermittent suppliers cannot sustain in the global market. D K Nair, secretary-general, Confederation of Indian Textile Industry, said there was lack of clarity on the parameters of value-added speciality and technical yarn. This is being set right and exports should commence in a week to 10 days. 

Send your News/Releases for publication to [email protected]
Added: February 23, 2011 Source: YNFX
Start script - 1534465280.5592 Start news id check - 1534465280.5592 After news id check - 1534465280.5595 After cookie_code - 1534465281.4431 Before news detail - 1534465281.4431 After news detail - 1534465281.444 Start cat select - 1534465281.4441 After cat select - 1534465281.4443 before preg replace - 1534465281.4443 After preg replace - 1534465281.4443 Before tag engine - 1534465281.4443 After tag engine - 1534465281.4479 Before mptt engine - 1534465281.4479 After mptt engine - 1534465281.4479 Before related engine - 1534465281.4479 After related engine - 1534465281.4503 Before update hits - 1534465281.4503 After update hits - 1534465281.4505 After update news_hits - 1534465281.4517 After mem_only_views - 1534465281.4517 -------------------------------------------------- Total Exec time:- 0.89260005950928
AddThis Social Bookmark Button   Tell a friendBookmark AddThis Feed Button
Related News:

Website design by InWiz • © - 2000-2018. Internet Wizards All rights reserved. About usTerms & ConditionsDisclaimerPrivacy policy • 17-08-2018