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Abolition of registration to boost cotton yarn exports

In order to boost exports of cotton yarn, the Centre plans to abolish the mandatory registration of cotton yarn shipments as the move would make exports more competitive and reduce transaction costs, sources said.

"Many exporters had pointed out the difficulty in abiding with this procedure. There is always a variation in weight of cotton yarn exported," said Mr R.K. Dalmia, Chairman of Cotton Textiles Export Promotion Council (Texprocil).

At present, exports of cotton yarn are subject to a registration procedure laid down by the DGFT, under which certificates are issued by the Regional Offices of DGFT to exporters of cotton yarn specifying the quantity of goods to be shipped out.

Source: Exim News Service: Mumbai, Dec. 22

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