The Directorate General of Foreign Trade today issued Notification No. 62 (RE-2010/2009-2014). Vide this notification. DGFT has removed quantitative restriction on exports on cotton from India. The notification states: “The contracts for export of cotton, during the Cotton Season 2010-11 (up to 30.09.2011), shall have to be registered with the Directorate General of Foreign Trade prior to
shipment. Customs would clear such cotton expect consignments (HS) codes 5201, 5203 only after verifying that the contracts have been so registered.” The procedure for obtaining Registration Certificate for the purpose will be notified by the DGFT being separately notified. The effect of this notification issued is as follows: The cap on export of cotton (HS) Code 5201, 5203 has
been removed. However condition regarding registration of contracts with DGFT would continue to apply. A new procedure of registration is being separately notified for export of Cotton (HS) Code 5201, 5203. In respect of cotton waste (HS) Code 5202 there is no change even in the procedure to obtain registration.