Import duty removal on cotton may help bring down prices: Textile Secy ...Middle East

Business Standard - Economy

The government's decision to remove import duty on cotton is likely to help bring down prices of the commodity, Textiles Secretary U P Singh said on Thursday. The finance ministry on April 13 waived customs duty on cotton imports till September 30, a move that will benefit the textile industry and keep prices low for consumers. Currently, cotton imports attract 5 per cent Basic Customs Duty (BCD) and 5 per cent Agriculture Infrastructure Development Cess (AIDC). The industry has been demanding a waiver of duty to lower domestic prices. "It would enable people who want to import. We are expecting that within a day or two, you would certainly see the impact on prices going down but at the same

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Last updated : 14 April 2022 clock 11:56 PM

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Import duty removal on cotton may help bring down prices: Textile Secy ...Middle East

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