Ludhiana, 14th April 2022
Shri Sanjay Garg, President, NITMA while welcoming & appreciating the move, voiced that such an exemption will not only be beneficial to India’s textile chain- yarn, fabric, garments, and made-ups but also help lower the prices for end-userand providing boost to textile exports
He further added that the withdrawal of import duty on cotton was sought after for quite a while by the domestic textile sector to stay in the race against the other low-priced textile manufacturing rival nations across the globe. Prior to this measure, effective rate of duty on cotton imports was 11% (incl. AIDC and surcharges), depriving the domestic industry of a level playing field.
Shri Mukesh Tyagi, Sr. Vice President, NITMA also welcomed the move & humbly advocated that:
– Cotton was India’s competitiveness and door opener for global textile trade and as such, a comprehensive Cotton Fibre Policy should be in place.
– In order to avoid the re-occurrence of these crises every year, the import duty on cotton may be removed permanently with the arrival of shipments only from April to September,each year.
He further requested the Ministry of Textiles &the Ministry of Finance to kindly consider the above suggestions so that the entire textile value chain can derive its benefits and the vision of the textile Ministry of 100 bn dollars by 2030 could be achieved.
