Trade Hits: 1509

Textile Sector Ask: Remove import duty on all varieties of cotton

Trade Hits: 1509
Textile Sector Ask: Remove import duty on all varieties of cotton
Trade Hits: 1509

28 January 2022, Mumbai:

The Centre estimates cotton production in 2021-22 at 36.25 million bales, while traders said it was around 33-34 million bales.

Budget 2021 likely to reduce number of import tax slabs, raise customs duty of finished goods- The New Indian Express

In a recent meeting with Union Finance Minister Nirmala Sitharaman this Thursday unequivocally all 'Textile Industry Stakeholders', appealed & exhorted for removing import duty on all varieties of cotton or least expected on extra-long staple (ELS) cotton to mitigate the elevated prices, and outlined the issue of suspected unscrupulous hoarding by certain cotton players. 

Credits: Business Standard

 

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