Southern India Mills Association (SIMA) welcomed the governmentâ€™s decision of bringing cotton yarn exports, a manufactured goods under free list by removing the mandatory registration.
T Rajkumar, Chairman, SIMA, said that the mandatory registration had been causing hardships for the cotton and cotton yarn exporters, besides affecting the image of the Nation in the global market .
The industry has been suffering during the last four years due to unwanted procedures and transaction cost.
The mills had to export the registered quantity within a period of 30 days and also furnish data along with various documents which was a cumbersome clerical work both for the exporters and the department.
Though the cotton spinning sector has been facing a recession from February 2014 due to sudden drop in cotton yarn exports, the market has started picking up and expected to come back to normal from 2015 and perform well.
The removal of mandatory export registration of cotton and cotton yarn for exports is a first step in the right direction towards achieving the mission 'Make in India" set by Prime Minister, Narendra Modi.
He thanked the Government for considering the representations made by SIMA, Confederation of Indian Textile Industry and Textile Export & Promotion Council.
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