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INDIA: Govt provides additional benefit for cotton exports

In a bid to appease cotton farmers and traders, the govt has provided an additional benefit for cotton exports. The sensitive commodity has been added to the list of products which enjoy special benefits under the Visesh Krishi and Gram Udyog Yojna which promotes export of farm products. This is a u-turn from the situation last year when spiralling demand had resulted in calls for discouraging exports. Reacting to the export concessions provided by the government, the Directorate General of Foreign Trade (DGFT) said, "This is election season when promotion of farm products gets priority. Therefore, the govt has decided to provide 5% duty credit to cotton exporters. This means that any company exporting Rs 100 crore worth of cotton would be entitled to import duty-free goods attracting customs duty of Rs 5 crore. The govt is also procuring cotton through the Cotton Corporation of India and subsidy is being provided for this purpose. Officials feels that these moves would ensure that price of cotton in the Indian market would not decline despite a significant dip in demand."


Added: February 19, 2009 Source: Agencies







Highlights of the Foreign Trade Policy

The Hon’ble Union Minister of Commerce & Industry, Government of India, had announced the Foreign Trade Policy on 8th April’05. Some of the Salient Features / Highlights of the proposals pertaining to Textile Industry in general and Handlooms in particular are. >> More


Salient features / Highlights of the Foreign Trade policy


Modern Processing Houses

The Indian Home Textile Industry has access to excellent infrastructure facilities and uses the latest technology and machinery.

Many manufacturers have set up state-of-the-art modern processing houses to roll out large volumes of high quality products to meet the international market demands and expectations. Needless to say that India’s Textile Exports have grown exponentially over the last decade.

Eco- Friendly Dyes: Use of Azo-Free Colours

The manufacturers in India are well aware that AZO free colours and dyes should be used. India has discarded the usage of banned materials in the dyeing process with safe substitutes, to ensure eco-friendliness of the products manufactured by the industry.