Yarn exporters with track record to be considered for quota allocation

0
71

Vide a notification released yesterday, the Director General of Foreign Trade (DGFT) has announced that since the number of applicants for exporting cotton yarn is very high and the quota to be allotted to each of these applicants is very low, the DGFT will consider only such applicants who have recent experience on such export, for which only those applicants with export performance in 2009-10 will be considered for allocation in this round.
It may recalled that the DGFT had on February 1, 2011 invited applications for allocation of cotton yarn exports and it had received approximately 2,500 applications. The volume of exports was to be calculated by deducting amount already exported up to January 15, 2011, from the existing ceiling of 720 million Kgs. It has turned out that the balance quantity is very small.
When a very small residual amount is to be allocated amongst such a large number of applicants, the actual quantity that comes to the share of many applicants becomes commercially unviable because of its un-economic size. In view of this, DGFT has taken a decision to consider only such applicants who have recent experience on such export. Hence, only those applicants with export performance in 2009-10 will be considered for allocation in this round.
The applicants have been advised to send a confirmatory e-mail by February 14, 2011 with regards to their export performance during 2009-10. In case no such confirmatory e-mail is received from an applicant, the e-mail sent earlier will be taken as final.
The applicants receiving the allocation will have to submit proof of their past export in 2009-10 to concerned RAs at the time of filing their applications for grant of export license in addition to other documents already mentioned earlier.
Since the last date of export is March 31, 2011, the allocation would be completed as expeditiously as possible, on receipt of the confirmatory e-mails. In view of the above, the allocation of cotton yarn for export as announced earlier, was not made yesterday.

(Source: http://www.fibre2fashion.com/news/textile-news/newsdetails.aspx?News_id=95734)

LEAVE A REPLY