Textile Exporters Request Government to Waive Cotton Import Duty
Textile exporters are urging the government to waive the 11% cotton import duty due to surging domestic prices and eroded margins. A duty waiver could improve competitiveness, but potential impact on domestic cotton farmers needs consideration.
💡 Key Fact
Textile exporters are requesting the government to remove the 11% import duty on cotton due to rising domestic cotton prices.
Background
Domestic cotton prices have increased by 7-8% in the last month, driven by higher demand as crude oil prices increase synthetic fiber costs, causing mills to shift back to cotton. This impacts export competitiveness.
Source: The Economic Times
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