The Government has permitted duty-free imports of cotton for the period April 14 - September 30, 2022 vide a notification issued on April 13 by the Ministry of Finance.
Manoj Patodia, Chairman of TEXPROCIL (The Cotton Textiles Export Promotion Council) thanked the Hon'ble Prime Minister Narendra Modi 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, Piyush Goyal for his untiring efforts to ensure that the Indian textile industry maintains its competitive edge in world markets.
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.
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( With inputs from ANI )
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