Export of Cotton Yarn by EOU/EPZ units for the year 2000 - FEMA - 01/2000

Government of India Ministry of Commerce Industry Department of Industrial Policy Promotion PRESS NOTE NO. 1 (2000 SERIES) Subject: Export of Cotton Yarn by EOU/EPZ units for the year 2000. Export Oriented Units (EOUs)/EPZ units in the cotton yarn sector are allowed to manufacture and export cotton yarn subject to the condition of use of domestic cotton for counts 1-40s, as stipulated in Press Note No.19(1997 Series) dated 26.12.1997. 2. With a view to addressing the difficulties of the cotton yarn EOUs Government had, vide Press Note No.17(1998 Series), notified on 13th November, 1998 certain flexibilities to the 100% EOUs to export cotton yarn without any restriction pertaining to count/sourcing of domestic cotton. 3. Taking into account all relevant factors, including domestic cotton availability and with a view to further encouraging the exports of cotton yarn, these relaxations are extended up to 31st December, 2000 and the overall quantitative ceiling on cotton yarn export of count 1-40s, is fixed at 500 (Five Hundred) Million kgs for the calendar year 2000. However, 100% EOUs, which are manufacturing cotton yarn subject to count restrictions would be permitted to export cotton yarn without any count/domestic cotton use restriction up to 31st December, 2000, provided that such exports are within the overall quantitative ceiling of 500 (Five Hundred) Million kgs. 4. All other provisions in the aforesaid Press Note dated 26.12.1997, as amended from time to time, would continue to operate. 5. All investors and entrepreneurs may please take note of the aforesaid policy for the year 2000. Sd/- (ASHOK KUMAR) JOINT SECRETARY F.No.10(48)/97-IP New Delhi , the 14th January 2000