India announced to cancel stimulating policy of cotton and yarn export

DGFT India, announced the cancellation of cotton and yarn export stimulus.Earlier, in the “Focus Market Scheme” and “incremental export stimulus plan”, the Indian cotton and cotton yarn exports can enjoy FOB price of about 3-4% of the tax benefits.

Deal one, and immediately caused shock in the Indian domestic industry. Indian Textile Union said that India cotton export prospects in the ascendant, the government should resume as soon as possible export stimulus. Southern India Mills Association, said that the current domestic cotton supply is adequate, the recent Indian yarn export demand weakened, prices fell, the elimination of export incentives does not make sense at this time, the Indian industry’s competitiveness and credibility will be greatly affected.

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