Allocation of Cotton Yarn Export - Not made Yesterday
AS per DGFT's Policy Circular No.15 (RE-2010)/2009-14 dated 1st February, 2011, the allocation was to be made yesterday.
Applications were invited for allocation of cotton yarn export. Approximately 2500 applications were received. The balance amount was calculated by deducting amount already exported upto 15.1.2011 (from most recent DGCI&S data) from the existing ceiling of 720 Million Kgs. This balance quantity is very small.
When a very small residual amount is to be allocated amongst such a large number of applicants, the actual quantity that comes to the share of many applicants becomes commercially unviable because of its un-economic size. Therefore, an administrative decision has been taken to consider only such applicants who have recent experience on such export. Hence, only those applicants with export performance in 2009-10 will be considered for allocation in this round.
Since the last date of export is 31st March, 2011, the allocation would be completed as expeditiously as possible, on receipt of the confirmatory e-mails (last date of receiving such e-mails is 14.2.2011). In view of the above, the allocation of cotton yarn for export as stipulated in Policy Circular No. 15 dated 1.2.2011 was not made yesterday as stipulated.
DGFT Policy Circular No. 17 (RE-2010)/2009-14 Dated: February 10, 2011