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Briefing
Cotton exports rise to Rs 339 lakh in 2000
INDIA has exported nearly 4,000 bales of raw cotton worth Rs 339 lakh till December, 2000, as compared to 860 bales during the corresponding period last year. The value of raw cotton exported during the same period last year was Rs 74 lakh. The Centre has relased a quota of nine lakh bales for the cotton season starting October 2000 to September 2001 as against five lakh bales in 1999-2000. Private trade accounted for almost 100 per cent of the cotton export during the month of December, shipping 4,017 bales of cotton while 50,000 bales of quantity registered with them.Cut in duty sought
The woven sacks industry demanded that customs duty on raw materials like plastic granules, be slashed to 15 per cent from 67 per cent to help reverse financial losses. "A basic duty of 35 per cent on plastic granules with 10 per cent additional surcharge, 16 per cent countervailing duty and four per cent special additional duty, resulted in an import duty burden of 67 per cent which should be reduced to 15 per cent," North India Woven Sacks Manufacturer's Association (NIWSMA) said. Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
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