India extends cotton import duty exemption till December 31

The government extended the customs duty exemption on cotton imports by two months until December 31, in a move aimed at ensuring adequate raw material availability and ease cost pressures for the domestic textile industry.

In May, India had waived the 11% import duty on cotton from June 1 to October 31.

The extension is expected to provide textile and apparel manufacturers greater flexibility in sourcing raw materials, ease input cost pressures, and support micro, small and medium enterprises (MSMEs), said the textiles ministry in a statement.
 

It added that the move also aims to strengthen the competitiveness of Indian textiles in domestic and international markets.

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