Textile Industry's Plea for Cotton Duty Relief
Representatives from the apparel industry met with key government officials, including Vice President C P Radhakrishnan, to advocate for the removal of an 11% import duty on cotton. They argue that the high duty exacerbates cost pressures, given the projected gap between supply and demand in the textile sector.
The apparel industry has rallied to address a pressing concern over cotton import duties that are causing financial strain. Representatives met Vice President C P Radhakrishnan, requesting the removal of an 11 percent import duty on cotton.
The delegation, led by AEPC Chairman A Sakthivel, previously met with Commerce and Industry Minister Piyush Goyal, Agriculture Minister Shivraj Singh Chouhan, and Textiles Minister Giriraj Singh. These discussions highlight an industry-wide push involving associations from the Tirupur cluster, such as TEA, SIHMA, TTPK, DAT, TEKMA, TEKPA, and SIIMKA.
The industry's push comes amid a significant supply-demand gap, with the current year's cotton requirement at 337 lakh bales, contrasting with a projected arrival of 292.15 lakh bales. Bipin Menon, Trade Advisor, hints at potential reductions, noting collaborations with the Department of Revenue to ease the industry's cost burdens.
(With inputs from agencies.)
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