Trade

Removal of import duty on cotton Demands Exporters

PIYUSH GOYAL IS THE NEW TEXTILE MINISTER

The Cotton Textiles Export Promotion Council (Texprocil) has appealed to the Union Textile Minister Piyush Goyal to remove the Customs Duty on cotton as it is mainly the extra-long staple branded cotton and contamination free cotton that are imported.

Exports of Cotton textiles (including raw cotton) during 2020-2021 reached US$ 10,723 million as against US$ 9,799 million in 2019-20, registering 9.43 % growth.

On the Indo-UK Free Trade Agreement, the Council urged the Minister to include textiles and clothing sector upfront in the “pre-negotiation scoping phase” or any envisaged “early harvest” programme to overcome the disadvantage faced by the Indian exporters due to duty concessions already granted by the UK to Bangladesh , Pakistan, Vietnam, Turkey and Sri Lanka.

He also sought measures to expedite the Indo- EU Free Trade Agreement to help the Indian exporters overcome the disadvantages of tariff preferences given to competing countries by European Union.

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