: Centre to exempt import duty on cotton #FinanceIndia #StockMarketNEWS Centre to exempt import duty on cotton New Delhi, 7 Jan (KNN) To mitigate the concerns of rising raw cotton and yarn prices,
@stockMarketNEWS Sun 09 Jan, 2022
Centre to exempt import duty on cotton #FinanceIndia #StockMarketNEWS
Centre to exempt import duty on cotton New Delhi, 7 Jan (KNN) To mitigate the concerns of rising raw cotton and yarn prices, the Ministry of textile has taken it up with the Finance Ministry to remove 10 per cent import duty on cotton.
The Hindu was given this information by Textile Secretary Upendra Prasad Singh who took a meeting with stakeholders and representatives of the textiles and clothing sector on this matter.
Singh said that he will suggest some measures to the authorities to consider and have already up the need to remove the import duty on cotton with the Ministry of Finance.
It has also urged the textile mills to be considerate about the current situation and take measures which are necessary to keep the yarn prices under control.
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