TEXPROCIL WELCOMES THE REMOVAL OF IMPORT DUTY ON COTTON

The Government has permitted duty free imports of cotton for the period April 14 – September 30, 2022 vide a notification issued on 13th April by the Ministry of Finance. In a statement today, Shri Manoj Kumar Patodia thanked the Hon’ble Prime Minister Shri Narendra Modiji for giving a “Baisakhi” gift to the textile industry, as the measure will benefit the entire textile value chain namely yarns, fabrics, garments and made ups and provide relief to consumers. He also thanked the Hon’ble Minister of Commerce, Industry, Textiles, Consumer Affairs, Food and Public Distribution, Shri Piyush Goyal for his untiring efforts to ensure that the Indian textile industry maintains its competitive edge in world markets. Shri Patodia hoped that going forward the prices of cotton which has reached unreasonable levels will stabilise and the textile industry will be able to increase its exports.