Government in 'advanced stage of consultation' on industry's demand for cotton import duty removal: Official
The government is currently consulting on the potential removal of an 11% customs duty on raw cotton imports. This decision is being discussed among several ministries, including finance, textiles, and agriculture, with a resolution expected soon. The textile industry is advocating for the removal to alleviate cost pressures stemming from high cotton prices and supply shortages.
- ▪The government is in an advanced stage of consultation regarding the 11% customs duty on raw cotton imports.
- ▪Ministries involved in the discussions include finance, textiles, and agriculture.
- ▪The textile industry is facing a supply-demand gap of nearly 45 lakh bales for the current year.
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The government is in an "advanced stage of consultation" regarding the 11% customs duty on imports of raw cotton, and examining if the levy can be removed, with a decision expected soon, a senior official said.Ministries, including finance, textiles, and agriculture, are deliberating on the duty, with the textile industry seeking its removal to mitigate cost pressures on domestic companies due to high prices."We are talking to Finance and Agriculture [Ministries], both, and it is in an advanced stage of consultation. We hope that the consultation will be finalised in the near future," the official told PTI. Remove import duty on cotton to ensure supply: Tamil Nadu CM Vijay urges PM ModiA delegation comprising apparel industry representatives and exporters met Vice President C.P.
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