The government has exempted cotton imports from a 11% Basic Customs Duty (BCD) for a period of 12 months, effective August 19. This measure is intended to keep domestic cotton prices stable and align them with global prices. The exemption is in effect until September 30.
Sanjay Jain, from the ICC National Textiles Committee, stated that this decision is a “huge relief” for the textile industry. The move is expected to help the industry maintain its cost competitiveness, especially in the face of rising global prices and production shortfalls.