NEW DELHI: Government has extended the export entitlement quota for readymade garments & knitwear, yarn and fabrics & made-ups to the US, Canada and European Union for one year with effect from 1 January, 2017.

"The government hereby decides to extend the operation of the residuary provisions of yarn, fabrics & made-ups export entitlement (quota) policy for a further one year with effect from 1 January, 2017," said a notification issued by Textiles Ministry.

Similarly, it also extended the operation of the residuary provisions of garments and knitwears export entitlement (quota) policy for a further one year with effect from 1 January, 2017.

The garments and knitwears export entitlement policy is applicable in respect of countries where such exports are covered by restraints under the provisions of the agreement on textiles and clothing.

Export entitlements will be allotted only to exporters registered with the competent registering authorities as per the export-import policy prevailing from time to time.

Quantities that become available from time to time on account of surrenders, flexibilities or otherwise shall also be allocated under the First Come First Served (FCFS) system.

The government had earlier decided to enforce operation of the residuary provisions of garments and knitwears export entitlement (quota) policy and yarn, fabrics & made-ups export entitlement (quota) policy initially for one year with effect from 1st January, 2005, and extended from time to time.
 

Sources :economictimes.indiatimes.com