October 1, 2010
The high-powered cabinet ministerial committee in India has decided to allow cotton exports from the country beginning November 1, 2010. The decision was reached on September 28 by the committee, which is chaired by India’s Finance Minister and includes the country’s Agriculture, Commerce and Textile ministers.
The registration for exports will begin on October 1 with no export duty for the allowable target of 5.5 million bales (170 Kg/bale). Mr. Nayan Mirani, of Khimji Visram and Sons, Mumbai, who is also the Vice President of the Cotton Association of India spoke exclusively to Seshadri Ramkumar of Texas Tech University today from Champaign, IL, and broke the news on the decision of India’s government on cotton exports. Mr. Mirani said he was pleased with the decision of the government to allow exports, which will create certainty in the market.