Aug. 26 – The Indian government has decided to allow the export of cotton even without licenses beginning October 1 following a notification issued by the Directorate General of Foreign Trade.
“Export duty on cotton has been removed and export will be allowed under the Open General License from October 1 onwards,” said Commerce Secretary Rahul Khullar in a statement. The export duty of Rs.2,500 per ton of raw cotton will also be removed by then.
India’s textiles office will begin registering export contracts on September 1. Next month, authorities will evaluate cotton demand and production for both the local and overseas markets.
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