Duty-free cotton imports extended till end of the year

On August 19, the Centre suspended customs duties totalling 11% on imports of the raw fibre for a limited period from August 19 to September 30. The tax break will now continue till December 31, a finance ministry statement said.

Srijit Misri, a member of the Apparel Export Promotion Council, hailed the decision, saying, “Council chairman Sudhir Sekhri had recently written a letter to Prime Minister Narendra Modi requesting a policy initiative to save the sector and livelihoods due to the adverse business environment and the US tariffs. We welcome this move.”

N Thirukumaran, general secretary, Tiruppur Exporters Association (TEA) and chairman of Esstee Exports India Pvt Ltd, said the exemption “would stabilise the cotton prices in India to be at par with international prices”.