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Date: 2014-12-08 Category: Extra Ordinary State: Union Government Country: India

Amendment in export policy of cotton.

Issued by Ministry of Commerce and Industry · Department of Commerce

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Executive Summary & Key Takeaways

This notification, No. 102/RE-2013/2009-14, issued by the Ministry of Commerce and Industry, Department of Commerce, on December 8, 2014, amends the export policy for cotton, specifically impacting Sl. No. 197 and 199 of Chapter 52 of Schedule 2 of the ITC (HS) Classification of Export and Import Items. The amendment, enacted under the powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992, read with Para 1.3 of the Foreign Trade Policy, 2009-14, effective immediately, substitutes the existing entries for these items. Specifically, the changes affect the following: * **Tariff Item 5201:** Cotton, neither carded nor combed, is now designated as "Free" for export. * **Tariff Item 5203:** Cotton, carded or combed, is also designated as "Free" for export. The key effect of this notification is the elimination of the registration requirement for the export of cotton under Tariff Codes 5201 and 5203. The notification was issued under F. No. 01/91/180/1194/AM10/Export Cell, by Pravir Kumar, Director General of Foreign Trade.

Key Entities Referenced

Foreign Trade Development Regulation Act, 1992: An act of the Indian Parliament that empowers the Central Government to make provisions for the development and regulation of foreign trade. Foreign Trade Policy, 2009-14: The foreign trade policy of India for the period 2009-2014, which is being referenced in the notification. Central Government: The executive authority of the Union of India, responsible for implementing the policies and regulations outlined in the notification. ITC HS Classification of Export Import Items: Indian Trade Classification (Harmonized System) which is used for classifying goods for export and import purposes. Chapter 52: Chapter 52 of the ITC HS Classification, which specifically deals with cotton. Cotton: A natural fiber and a key commodity that is the subject of this export policy amendment. Pravir Kumar: Director General of Foreign Trade, the signatory of the notification. New Delhi: The location where the notification was issued and the location of the Government of India Press, Delhi.
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