India extends cotton import duty exemption till December 31
Executive Brief • Key Highlights
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- ✓The Indian government extended the customs duty exemption on cotton imports until December 31.
- ✓This move aims to support the textile industry by ensuring raw material availability and easing costs.
- ✓The ministry said the decision intends to "improve domestic cotton availability" and strengthen the competitiveness of Indian textiles in global markets.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Economic Times
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
The Indian government has extended the customs duty exemption on cotton imports to December 31. This decision aims to support the textile industry by ensuring adequate raw material availability. The waiver allows greater flexibility for manufacturers to source inputs at reduced costs. Domestic cotton prices have remained firm due to production concerns, prompting this extension. The move is expected to strengthen Indian textiles in both domestic and international markets.
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.
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Economic Times
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