Yesterday, the Directorate General of Foreign Trade (DGFT) announced that it was extending the last date for registration and submission documents for cotton exports by a week.
Last week, DGFT had announced July 15 as the last date for issuing, scrutiny and submitting of cotton export documents.
However, in its wisdom, the DGFT has extended the deadline by a week, considering the events in Mumbai and also in Bangladesh.
Bangladesh a major market for Indian cotton, has also witnessed two major strikes in the last few days, which disrupted normal trade.
Earlier, the government had allowed exports of an additional one million bales (1 bale = 170 kg) over and above the 5.5 million bales, which have already been exported in the current season.
DGFT had also issued a notification allocating the export quota to eligible applicants.
Fibre2fashion News Desk - India
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