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India allows unrestricted exports of fresh
cotton
Monday April 30, 2012 08:13:13 PM,
IANS
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New Delhi: Succumbing to political pressure, the government Monday revoked
the ban on cotton exports and said fresh exports will be allowed
without any quantitative restrictions.
"A decision has been taken to remove the suspension of
registration. So the registration for cotton exports will be
allowed by the government," Commerce and Industry Minister Anand
Sharma told reporters here.
Sharma, who also holds the textiles portfolio, said the
Directorate General of Foreign Trade (DGFT) will take the
necessary steps to allow fresh registration for exports of cotton.
The decision to allow fresh cotton exports was taken by an
informal group of ministers headed by Finance Minister Pranab
Mukherjee.
Besides Sharma, Agriculture Minister Sharad Pawar and Chairman of
the Prime Minister's Economic Advisory Council C. Rangarajan
attended the meeting.
Sharma said fresh exports would be allowed without any
"quantitative restrictions".
However, the decision would be reviewed by the group of ministers
in three weeks' time, he said.
The decision to allow fresh exports of cotton was taken after
senior leaders from Gujarat and Maharashtra met the finance
minister and the prime minister and sought the removal of the
exports ban.
Agriculture Minister Pawar has also been pressing for allowing
fresh exports. In a letter to the prime minister, Pawar has called
for a review of export policy of farm products like cotton, milk
and sugar.
Sharma said the decision to remove suspension on registration of
cotton exports had been taken based on the estimates of the
agriculture ministry's data on cotton production and the Cotton
Advisory Board.
Last month, the government had allowed shipments for which
registration certificates were issued before the ban was imposed
March 5.
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