A free trade agreement between India and Japan, aimed at liberalizing trade between the two countries, will come into force today.Japan has agreed to eliminate tariffs completely on-textile over the next five years.Cotton amid abundant availability,a crash in prices,the govt removed restrictions on the export of cotton and permitted shipments under open general licences (OGL) for the remainder of the current season.The cotton season runs from October to September. Cotton exports for the remaining two months (August and September) have now been put under OGL, Commerce Secretary Rahul Khullar said on Sunday."Now, exporters only have to register with the Directorate General of Foreign Trade (DGFT)," he said.
The issue came in for review at a meeting of secretaries in the ministries of commerce, textiles and agriculture, convened by Commerce and Industry Minister Anand Sharma here last week.
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