India allows cotton exports after scrutiny

India yesterday allowed cotton exports to neighbouring countries like Pakistan and Bangladesh via land route after scrutinising the export orders that were issued before the ban.
On March 5, the government imposed a ban on cotton exports to increase its stocks for domestic users.
But the decision was rolled back following political pressure from India's ruling Congress Party and its key coalition partner Agriculture Minister Sharad Pawar who heads the Nationalist Congress Party.
However, the Commerce Ministry decided that no fresh registration certificates (RCs) would be issued for exports and it would scrutinise all the RCs issued before the ban.
“The process of revalidation/scrutiny of all the registered contracts for export of cotton through the land custom stations with India's neighbour has been completed in the first lot of scrutiny,” read an official statement.
India, the world's second largest cotton producer, issued RCs for 130 lakh bales (170 kg each) of cotton before the prohibition, out of which 95 lakh bales were shipped.