Textile exporters get another relief on raw material imports

Textile exporters who import certain varieties of polyester fibre or yarn that come under mandatory Quality Control Order (QCO) under Advance Authorisation scheme now have 18 months time to fulfil the export obligation.

The Central government said on Thursday that the export obligation period against import of products that are subjected to mandatory QCO by the Department of Chemicals and Petrochemicals under Advance Authorisation has been extended from six months to 18 months.

Sanjay K. Jain, chairman of the expert committee on textiles of the Indian Chamber of Commerce, said this move will benefit exporters who import polyester fibre and yarns under Advance Authorisation as it allows them to import cheaper raw materials and have time to fulfil the export obligation.