Export entitlement quota for garments, yarn extended for another one year

The export entitlement quota for readymade garments & knitwear, yarn and fabrics & made-ups to the US, Canada and European Union extended for one year with effect from 1 January, 2017.

As per a notification issued by Textiles Ministry, it states that the Union Government decides to extend the operation of the residuary provisions of yarn, fabrics & made-ups export entitlement (quota) policy for a further one year with effect from 1 January, 2017,

Similarly, it also extended the operation of the residuary provisions of garments and knitwear.

Only those exporters registered with the competent registering authorities as per the export-import policy prevailing from time to time will be allotted export entitlements.

Quantities that become available from time to time on account of surrenders, flexibilities or otherwise shall also be allocated under the First Come First Served (FCFS) system.

The garments and knitwears export entitlement policy is applicable in respect of countries where such exports are covered by restraints under the provisions of the agreement on textiles and clothing.

The previous extension of the residuary provisions of garments and knitwears export entitlement (quota) policy and yarn, fabrics & made-ups export entitlement (quota) policy was scheduled to expire on December 31, 2016.

The government had initially introduced this policy for one year with effect from January 1, 2005, and has been extended since then.