The Government will reportedly allow unrestricted export of 55 lakh bales of cotton from October 1 but dispatches beyond the ceiling would attract an export duty of Rs 2,500 per ton.
According to reports, the decision to allow unrestricted export of 55 lakh bales was taken at a meeting of the Commerce Secretary, Rahul Khullar, the Agriculture Secretary, P.K. Basu, and the Textiles Secretary, Rita Menon, here on September 1.
However, exporters will have to register their overseas contracts with the Textiles Commissioner. The registration process is scheduled to start from September 15.