In a measure to limit the yarn export, There has been an introduction of quota for the export of the yarn. This notification clears intended to stop any new commitment for export during the month of February and march. The quota is for the government prescribed limit of 720 million Kg. The applicant will be issued a quota of 100000 kgs or any higher amount if there was an export of more than 100000 kgs during the previous year(2009 -10). After the allocation is made a set of following documents needs to submitted for the export authorisation to regional authorities.
(a) Application form (ANF 2D) duly filled and signed,
(b) Copy of Export Contract along with :either (i) A copy of irrevocable Letter of Credit(LC) duly authenticated by an Indian Bank. Or (ii) FIRC showing receipt of remittance from the concerned foreign buyer as proof of having received 100% Advance Payment.Or (iii) FIRC showing a minimum of 25% Advance Payment and balance Cash Against Delivery(CAD),
(c) Copy of IEC (against which the original application to DGFT has been sent)
if documents are not provided then the allocation shall stand cancelled. The entire process of quota allocation will end on 18. 02. 11, The export should be be completed with in 31.03.2011.