Govt extends customs duty exemption on cotton imports up to Dec 31 ...Middle East

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Govt extends customs duty exemption on cotton imports up to Dec 31
source : Business Standard ( Middle East ) () 49
Keeping in view raw material requirements of domestic textile industry, the Centre has extended the existing customs duty exemption on cotton imports until December 31, 2026, the textile ministry said on Saturday. The extension has been notified by the Department of Revenue, Ministry of Finance, dated October 30. Through this amendment, the existing exemption, which was available until October 2026, has been extended by two months, up to December 31, 2026. In May, the government had exempted cotton imports from customs duties for five months, till October 31, 2026. "The extension is expected to help reduce input costs across the textile and apparel sector, thereby providing targeted relief to manufacturers and consumers, while also keeping the interests of domestic farmers in mind," the finance ministry said. The textile ministry said, "The Government of India remains conscious of the need to balance the requirements of the textile industry with the interests of domestic cotton ...

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