India cotton export resumes

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NEW DELHI: India has allowed cotton exports to neighboring countries, including Pakistan and Bangladesh, via land route after scrutinising orders issued before the government imposed a ban on March 5 which has since been partially revoked, Press Trust of India reported. Commerce Ministry had decided no fresh registration certificates (RCs) would be issued for exports and it would scrutinise all the RCs issued before the ban. “The process of revalidation/ scrutiny of all registered contracts for export of cotton through the land custom stations with India’s neighbour had been completed in first lot of scrutiny,” an official statement said. Commerce and Textiles Minister Anand Sharma had ordered keeping in mind logistical issues Land Custom Station related RCs should be cleared in the first lot, it added. India, which is second largest producer of cotton in the world, had issued registrations certificates for 1.3 million bales (170 kg each) of cotton before the prohibition and out of that 9.5 million bales were shipped. The country is expected to produce record 34 million bales of natural fibre in 2011-12 crop year

Source: http://www.dailytimes.com.pk/default.asp?page=2012%5C03%5C25%5Cstory_25-3-2012_pg10_2

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