Delhi to ease cotton exports further

India may allow its mills to export 306,000 bales of cotton to Bangladesh and Pakistan this month under stringent procedures. .
Following complaints from the textile mills that exports of Indian raw cotton on large scale had led to the item's domestic market scarcity, the Delhi government enforced in April the suspension on new exports to contain its spiraling prices.
An official of the commerce and industry, the traders who had signed deals with Pakistan and Bangladesh, will be able to export 190,000 bales of cotton to Islamabad and 116,000 bales to Dhaka.
Under the tough conditions for the proposed cotton export, the traders will have to pay an export tax of Rs 2,500 a tonne, stipulated just before the ban was imposed.
If allowed, such shipment will be the first since the government lifted a ban on May 21.