India Cotton Cotton Yarn Export Incentives To Cancel

< p > the new year has begun, but there are 1 bad news for India cotton, < a href= "http://www.91se91.com/news/index_c.asp" > yarn < /a > and meat products export.

The Ministry of Finance decided to abolish certain incentives to promote exports of cotton, cotton yarn, meat and meat products.

In recent years, the export volume of these products has increased significantly, prompting the government to abolish export incentives to promote these products, official sources said.

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< p > the Inland Revenue Department said that the export of these products will no longer enjoy preferential treatment of key market plans.

The purpose of the plan is to offset high pport costs and other external factors in order to enhance export competitiveness in specific international markets.

The export of cotton yarn will no longer enjoy the exportation incentives.

For cotton yarn export industry, this will be 1 big twists and turns. Abolishing these export incentive policies is illogical. It will substantially reduce employment in the country.

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< p > 4-11 months in 2013, India cotton yarn < a href= "http://www.91se91.com/news/index_c.asp" > registered export volume < /a > 42% over the same period last year, from 658 thousand and 700 tons to 937 thousand tons, mainly due to China's growing demand.

China's policy has made India's yarn exports a huge profit, accounting for almost 25% of China's yarn imports.

The total export of meat and meat products in India increased by 59% over the same period last year, from 90 billion 370 million rupees to 143 billion 890 million rupees in 4-10.

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< p > we know that < a href= "http://www.91se91.com/news/index_c.asp" > Foreign Trade Bureau < /a > has issued a green signal in September, and the Revenue Department has already implemented the decision.

With the cancellation of key market plans, cotton yarn exports will no longer enjoy 3% of the total value of offshore value (FOB).

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ManikamRamaswami, chairman of the Export Promotion Committee of the P cotton textile industry, said that according to the incremental export incentive plan, an increase of 2% would be an incentive to export for 1 years.

The Ministry of Finance clearly stressed that the coalition government did not want to see cotton yarn as a 1 manufacturing product and needed to spend about 10000 billion rupees in this part.

India's cotton yarn exports amounted to about 35-40 billion US dollars, of which about 500 million US dollars came from key market countries.

According to Ramasamy, the cancellation of export incentives will damage the export prospects of the cotton yarn market, and it has been identified as a key market plan.

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< p > to the market incentive of the Ministry of finance to abolish cotton yarn and meat products, AjaySahai, chief executive officer of the India export organization alliance, said the government should give the industry some time to adapt to these changes.

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< p > the Ministry of finance did not mention when these adjustments will be implemented, Sahai said.

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< p > India is the third largest cotton producing country in the world after China and the United States. It is also the world's largest jute producing country and the second largest producer of raw silk.

Although the output of cotton in India is lower than that in China, its output has maintained a sustained growth momentum, and cotton in India has basically been self-sufficient.

Cotton prices are lower than the international market.

And the five largest producer of fiber, the supply of raw materials is also adequate.

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< p > India is the weakness of the textile industry. The scale of the textile enterprises is small, scattered, insufficient investment, backward production equipment and production technology.

The advantages of India's textile industry are low labor prices. According to the US media survey, the average wage of China's textile industry is 0.68 dollars per hour, and India is 0.38 dollars / hour.

With its abundant labor and raw material resources, India is widely regarded as the main competitor of China in the future.

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