The Textile Commissioner has cleared shipments of 52.46 lakh bales
by giving export authorisation registration certificates (EARCs), and
48 lakh bales are to these four countries .
“The Centre has decided to allow exports of 55 lakh bales cotton from
November 1. Registration for shipments began on October 1 and stopped
on October 10 after applications for the entire quantity were received.
..According to data from the Textile Commissioner’s office, 70 per cent
of the EARCs have been garnered by 13 exporting firms. The accompanying
table shows the top five exporting companies. The problem with CAD
transactions is that they are without any guarantee or security”.