India relaxes the export of imported cotton yarn

A recent announcement from the Office of the General Administration of Foreign Trade in India has introduced a new policy regarding the export of cotton yarn. The notice states that India will now ease restrictions on the export of cotton yarn produced from imported raw cotton. Under this revised policy, manufacturers who use imported raw cotton to produce cotton yarn will no longer be subject to the same export limitations that previously applied to cotton yarn exports.

However, there are specific requirements that must be met. Exporters are required to obtain a certificate from the Judicial Central Taxation Office, which confirms that the cotton yarn being exported is made entirely from imported raw cotton. This certificate serves as proof of origin and ensures compliance with the new regulations.

Before any such goods can be cleared by customs, the authorities must verify the authenticity of the certificate issued by the Judicial Central Taxation Bureau. Only after this verification process is complete will the export be approved and the goods released.

This change is expected to benefit textile manufacturers by providing more flexibility in their export operations, while still maintaining necessary controls to ensure transparency and compliance. It also reflects the government's ongoing efforts to streamline trade procedures and support the growth of the textile sector. The move is likely to encourage increased production and exports, especially for companies that rely heavily on imported raw materials. Overall, the updated policy aims to strike a balance between regulatory oversight and business facilitation.