India's five textile companies took away export agency registration permits

The five companies took away 51% of the issued export agency registration permit (EARC), allowing the shipment of 850,000 bags of cotton, weighing 170 kilograms per bag.

The central government allowed the registration of cotton export contracts from October 1. As of Saturday, the Textile Commissioner’s office had received 996 shipments, nearly 4 million bags.

Registration does not mean that the exporter can expect to ship the goods, but obtaining EARCs means ensuring that the goods will be shipped from November 1st, but must comply with the regulations that the government will issue at that time.

The central government allowed the export of 5.5 million bales of cotton from November 1. Authorities were satisfied with the performance of a company before issuing export permits (EARCs).

According to the data released by the Textile Commissioner's Office, global trading companies such as Cargill, Louis Dreyfus and Orland International have taken 11% of the issued EARCs.

The Bhadresh trading company headquartered in Mumbai took 20% of the issued permits, allowing a total of 181,000 bags of exports, ranking among the top companies.

The DML Import and Export Corporation in Rajkot received a total of 94,117 export licenses, while Jaydeep Cotton Fibers, another Rajkot company, received 66,423 export licenses. In fact, the three companies received 40% of export licenses.

Other companies got a license. Gill Private Limited in Mumbai received 54076 bales, KKM International in Mumbai received 47058 bales, and Kolkata in Calcutta received 44 411 bales, and MEP Cotton Co. got 44,117 packets, if these four companies are added, then the largest seven companies have received a total of 62% of export licenses.

Cargill India Pvt. Ltd. obtained 38,000 export licenses, and its headquarters in India, Orland International, India, and France’s Luis Dover received 33,823 bales and 26,529 bales respectively.

Indian textile industry officials said that at least 80% of cotton exports are concentrated in the hands of a small number of exporters. These exports cannot benefit farmers because the sellers of cotton for these exporters are cotton merchants, not growers.

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