A meeting between the Commerce Ministry and the Agriculture as well as Textile Ministry would be held on September 1 to discuss quotas on exports of cotton.
It may be recalled that, last week the Commerce Ministry had removed all restrictions on exports of cotton as well as cotton yarn beginning from October 1, 2010.
Giving details, Mr Rahul Khullar, Commerce Secretary said that interests of the farmers as well as the domestic textile industry would be given first preference, while fixing quotas.
The Agriculture Ministry would be providing its cotton production projected figures and the Textile Ministry would be giving the domestic cotton consumption figures.
After which only, the excess amount available would be permitted for exports without any restrictions, however, subject to registration of contracts with the Office of the Textile Commissioner.
Fibre2fashion News Desk - India
marketing@alchempro.com
