NITMA hails withdrawal of customs duty on cotton imports

19 April 2022, Mumbai:

Sanjay Garg, President, of NITMA has lauded the government’s move to withdraw customs duty on cotton imports till September 30, 2022.

The exemption will not only benefit India’s textile chain - yarn, fabric, garments, and made-ups but also help lower the prices for end-user and provide a boost to textile exports, he said.

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MukeshTyagi, Sr Vice President, NITMA also welcomed the move saying, Cotton is important to enhance India’s competitiveness in the global textile trade and the government should introduce a comprehensive Cotton Fibre Policy.

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Tyagi also advocated for the permanent removal of the import duty with the arrival of shipments only from April to September, each year.

This will help the Textile Ministry increase the industry size to $100 billion by 2030, he said.

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