Govt removes 11 pc import duty on cotton

The government has removed the 11% import duty on cotton till September 30 this year, a move that would help the domestic textiles industry in dealing with the US tariff issue. The Ministry of Finance has issued an extraordinary notification regarding the removal of import duty, which took effect from August 19. Mr Atul Ganatra, President, Cotton Association of India (CAI), the apex trade body, said that the government has accepted the demand. The industry is waiting for the modalities that are likely to be announced soon. The industry is awaiting clarification from the government on whether the 11% duty exemption applies to import contracts made until September 30 or to the cotton reaching Indian ports by September 30, as per a report.

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