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Govt debars 178 firms from cotton exports

Govt debars 178 firms from cotton exports
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First Published: Wed, Jun 29 2011. 07 43 PM IST
Updated: Wed, Jun 29 2011. 07 43 PM IST
Mumbai: The government on Wednesday debarred 178 firms from future allocation of cotton for export after they failed to comply with the exports norms.
The government earlier this year gave permission to 928 firms to export 1.9 million bales of 170 kg each, but 178 exporters either exported higher or lower quantity than their permit limits. Many exporters failed to ship a single bale, according to a notification posted on Director General of Foreign Trade’s website.
The government has barred such exporters from future exports. These exporters will now not be allowed to participate in exporting 1 million bales that it had allowed earlier this month.
India, the world’s second biggest grower and exporter of the fibre, is likely to have harvested a record 31.2 million bales in 2010-11, the Cotton Advisory Board has estimated.
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First Published: Wed, Jun 29 2011. 07 43 PM IST