Govt to review cotton exports in 2 weeks
Government has flip-flopped on the issue of banning cotton exports. After saying it was lifting a ban on overseas sales , Khullar said no fresh exports would be allowed
New Delhi: A panel of ministers will likely review a halt on fresh cotton exports from India in two weeks, Trade Secretary Rahul Khullar told reporters on Monday.
The government has flip-flopped on the issue of banning cotton exports. After saying it was lifting a ban on overseas sales of the fibre on the weekend, Khullar said on Monday no fresh exports would be allowed and only the quantity permitted to be sold before the ban will be allowed to be shipped.
Contracts for about 2.5 million bales are already registered and awaiting shipment.
The ban, announced unexpectedly on March 5, after a record 9.5 million bales had been shipped, ran into criticism from the influential agriculture minister, Sharad Pawar, and China, the biggest buyer of cotton from the world's second-largest producer.
Don’t be misled by the name of this Trumpian push - RAISE Act is not yet an Act, it is still a Bill and hundreds of such Bills get introduced in the US Congress every year. What is important is that Trump has singled out not just the Bill but also handpicked its authors and timed it to deflect any whining about his nothing burger on the promised Obamacare repeal.