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Incentives on Cotton and Yarn exports

Written By Views maker on August 29, 2011 | 8/29/2011

Cotton exports have been placed on Open General License (OGL) category without any export cap with effect from August 2, 2011. Government has restored DEPB benefits on cotton from October 1, 2010 and cotton yarn from April 1, 2011 to incentivize cotton and yarn exports addressing the slowdown in the industry. Cotton prices have increased from Rs. 29,500/candy on August 2, 2011 to Rs. 38,500/- candy on August 25, 2011 since these policy interventions.
The draft National Fibre Policy prepared with a decadal perspective projects for an increase in cotton production in the country from 325 lakh bales in 2010-11 cotton season to 433 lakh bales in 2016-17 with a surplus of 58 lakh bales.
The Technology Mission on Cotton was implemented in the 9th, 10th and 11th Five Year Plan with the vision to increase cotton production by about 50 percent from an area of 90 lac hectares by producing globally competitive clean high quality cotton for domestic consumption and value added export. During the period of implementation of the Technology Mission on Cotton, cotton production increased from 95.24 lac bales in 2000-01 to 325 lac bales in 2010-11 and area under cultivation in 2011-12 is expected to reach 120 lac hectares with India’s cotton exports increasing from 0.84 lac bales in 2000-01 to 80 lac bales in 2010-11. Mini Mission- I on development of short duration, disease and pest resistant varieties, improved water and nutrient practices and development of integrated pest management technology is implemented through a number of premier Institutions in the country like Central Institute for cotton Research (CIRCOT), Mumbai, Central Institute for cotton Research (CICR), Nagpur and a number of Agricultural Universities.
This information was given by Smt. Panabaaka Lakshmi, Minister of State for Textiles, in a written reply in the Lok Sabha today.