July 26, 2011 7:09 PM

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Govt. to restore export sops for export of cotton, yarn

The government on Tuesday announced restoration of the Duty Entitlement Pass Book scheme on export of cotton and cotton yarn. The decision has been taken due to huge fluctuation of price faced by cotton yarn industry in the international and domestic market. Under the scheme, companies get refund of customs duty paid on imported raw material for manufacturing products meant to be exported. Talking to reporters in New Delhi, Commerce and Industry Minister Anand Sharma, who also holds the charge of Textile ministry, said the decision to restore the scheme will be from back date. The government had earlier withdrawn the scheme on cotton and cotton yarn in April last year.

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