India Cotton Export Restrictive Policy Triggers "Contract" Dispute
To protect the country
cotton textile industry
India authorities have imposed export licensing restrictions on cotton since May 21st.
However, the move was strongly opposed by importers from Pakistan and Bangladesh. They asked Indian cotton growers to carry out the signed cotton export contract, otherwise they would ask for payment of liquidated damages for the contract.
At present, India Commerce Bureau said it was investigating the matter to further understand the signed cotton.
Exit
Number and amount of contract.
It is reported that Bangladesh is a major textile power country in South Asia.
textile
Exports account for about 80% of total exports, while Pakistan is a large cotton producing country and imports about 3 million bales of cotton annually from India.
India's restrictions on cotton exports have obviously affected the textile industry of Bangladesh and Bangladesh. At present, exporters and Mencius and Pakistan are anxiously waiting for the Indian authorities to respond to the matter.
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