Conditions and modalities for registration of contracts of cotton with DGFT .
RECENTLY, DGFT had issued Notification No. 12 (RE-2010)/2009-14 dated 16.12.2010 and Policy Circular No. 6(RE-2010)/2009-14 dated 16.12.2010 for registration of contracts for export of cotton. The export of raw cotton is to be limited to 55 lakh bales during the cotton season 2010-11. Accordingly, it has been decided to invite applications for grant of registration certificate for export of cotton.
Allocation will be made after scrutiny of applications, as per the following criteria:-
(i) Allocation will be done on a prorata basis with a ceiling of 1,00,000 bales per IEC and floor of 500 bales per IEC . Therefore, no application below 500 bales will be considered.
(ii) Exporters who did not export full quantity for which registration certificate was obtained by them from Textile Commissioner, Mumbai in October, 2010, would be disincentivised by reduction of their pro-rata quantity by the percentage of such default.
DGFT Circular No. 9/(RE-2010) 2009-14, Dated: December 29, 2010