ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Generic Weaknesses

levels which will make Indian textiles competitive in world markets. The Cotton Corporation of India has announced the import procedure to be followed under the canalisation scheme effective from September 15. Mills are free to choose any of the existing importers as their authorised nominees for the import of cotton. While this meets the trade's demand for an "open house", the terms and conditions are such that only a few importers enjoying the patronage of big mills are likely to find it worthwhile to do this business. The authorised nominees of the allottee mill will be required to submit to the CCI, details of the contract proposed to be entered into with foreign ex- porter, prior to entering into contract in a form to be prescribed by the Corporation. This could easily put the importing mills in a awkward position. And all that an importer will get is half per cent of the fob value of the imported consignment; the other half per cent being shared equally by the Corporation and the concerned mill.

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