Budget proposes 10% customs duty on import of cotton
3 years, 10 months ago

Budget proposes 10% customs duty on import of cotton

The Hindu  

Finance Minister Nirmala Sitharaman announced in the Union Budget a levy of 10% customs duty on cotton and an increase in the customs duty on raw silk and silk yarn from 10% to 15% to benefit farmers. Also, in a move to rationalise duties on raw material inputs for man-made textiles, the Budget proposed to bring nylon chain on a par with polyester and other man-made fibres by reducing the basic customs duty on caprolactam, nylon chips, nylon fibre and yarn to 5%. Union Textiles Minister Smriti Irani tweeted that the textile park scheme would be a game changer for the Indian textile industry. Manoj Patodia, chairman of the Cotton Textiles Export Promotion Council, said the levy on raw cotton imports would increase domestic cotton prices and thus have an adverse impact on the entire value addition chain.

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History of this topic

Indian garment sector expects short-term gains due to Bangladesh crisis
4 months, 2 weeks ago

Indian garment sector expects short-term gains due to Bangladesh crisis

The Hindu  

The crisis in Bangladesh is expected to impact the Indian textile and apparel sector in the short term. Siddhartha Rajagopal, the Executive Director of Cotton Textiles Export Promotion Council, said $1.7-billion worth of cotton, cotton yarn and fabrics were exported by India to Bangladesh last fiscal, which is 17% of India’s cotton textile exports. According to the Apparel Export Promotion …

India plans to expand production-linked incentives for small textile firms: minister
6 months ago

India plans to expand production-linked incentives for small textile firms: minister

Hindustan Times  

By Manoj Kumar India plans to expand production-linked incentives for small textile firms: minister NEW DELHI - India plans to expand production linked incentives to small textile firms soon, part of efforts to increase garment exports to $50 billion by 2030, the federal textile minister said on Tuesday. The government introduced incentives for the textile sector in 2021, and has …

Textile industry demands raw materials at competitive prices
6 months, 1 week ago

Textile industry demands raw materials at competitive prices

The Hindu  

The textile and clothing industry, which employs nearly 60 lakh people in Tamil Nadu, has demanded availability of raw materials at competitive prices for the industry. The SIMA chairman, who met the new Union Textile Minister, Giriraj Singh, recently, told presspersons in Coimbatore on Tuesday that Indian cotton prices had remained almost stable this cotton season. Though the government removed …

Cotton position comfortable, says SIMA
9 months ago

Cotton position comfortable, says SIMA

The Hindu  

The Committee on Cotton Production and Consumption, at a recent meeting, estimated cotton production this season, ending September, at 323 lakh bales and exports 27 lakh bales. The Cotton Association of India, however, said production will be 309 lakh bales mainly because it expects production in Telangana to be 34 lakh bales against 48 lakh bales estimated by the COCPC. …

Textile Export Freight Costs due to Merchant Ship Attacks
11 months, 3 weeks ago

Textile Export Freight Costs due to Merchant Ship Attacks

The Hindu  

The deteriorating situation in the past week following Hamas-supporting Houthi rebels attacks on merchant ships in the Arabian Sea has raised freight rates by 40% with the possibility of this going up, say India’s textiles traders. Red sea is one of the busiest trade routes that connects Europe and Asia, but the recent attacks have forced merchants ships to take …

China’s Surplus Textile Influx Affects India’s $60 Billion Industry
1 year ago

China’s Surplus Textile Influx Affects India’s $60 Billion Industry

The Hindu  

For almost a year now, India’s major textile hubs of Ludhiana, Surat, and Erode have been fighting an almost insurmountable challenge: rising imports, or arguably large-scale dumping, of man-made fibre fabrics that is affecting a sector valued at about $60 billion. In the last three years, MMF fabric imports, which attract mostly 20% duty, have doubled and most of it …

‘Import duty on cotton affects opportunities in textile sector’
1 year ago

‘Import duty on cotton affects opportunities in textile sector’

The Hindu  

The import duty on cotton in India has had an impact on shipment of Supima cotton to India, said Marc Lewkowitz, President and Chief Executive Officer of Supima. Mr. Lewkowitz, who was in Coimbatore on Monday to take part in the Cotton Day 2023 programme organised by Cotton USA, told The Hindu that the duty was a disincentive for brands …

SIMA seeks exemption of import duty on cotton
1 year, 2 months ago

SIMA seeks exemption of import duty on cotton

The Hindu  

The Southern India Mills’ Association has appealed to Union Finance Minister Nirmala Sitharaman to exempt cotton from 11 % import duty between April and October when the farmers usually complete sale of cotton stocks with them. Indian textile and garment exporters have established their market in superfine cotton textiles made out of ELS fibre, especially Pima cotton produced in the …

Will review import levy on cotton after consulting Agriculture Ministry, says Piyush Goyal
1 year, 3 months ago

Will review import levy on cotton after consulting Agriculture Ministry, says Piyush Goyal

The Hindu  

A decision on removing the import duty on cotton will be taken after holding consultations with the Agriculture Ministry, said Piyush Goyal, Union Minister for Textiles, Commerce and Industry, Consumer Affairs, Food, and Public Distribution. When asked about the textile industry’s demand for removal of the 11 % duty on cotton, the Minister told The Hindu, “We need to balance …

Trade eyes more cotton imports from Australia
1 year, 7 months ago

Trade eyes more cotton imports from Australia

The Hindu  

India has exhausted the 51,000-tonnes quota of duty-free Australian cotton imports for 2023 and if the prices are at the right level, there is scope for more imports, according to a section of the cotton trade. According to Nishanth A. Asher, secretary of the Indian Cotton Federation, the speciality nature of the Australian cotton fibre offers potential for higher imports …

Cotton yarn imports increase
2 years, 2 months ago

Cotton yarn imports increase

The Hindu  

Increase in imports of cotton yarn since June this year has raised concerns among the domestic textile mills. Indian cotton and yarn prices went up since November last year and this was one of the reasons, said Siddhartha Rajagopal, Executive Director of Cotton Textiles Export Promotion Council. Ramasamy, president of Powerloom Development and Export Promotion Council, Indian cotton yarn prices …

Cotton Prices Started Softening Of Late, Govt To Formulate PLI 2.0 For Textiles: Secretary
2 years, 6 months ago

Cotton Prices Started Softening Of Late, Govt To Formulate PLI 2.0 For Textiles: Secretary

News 18  

Cotton prices have been higher for quite a while now and the government is in the process of formulating PLI 2.0 for the textile industry, Textiles Secretary Upendra Prasad Singh said adding that the next round of PLI should be for apparel & garments. He also said cotton exports have seen a growth of 10-12 per cent and the textile …

Import duty waiver on cotton: Piyush Goyal tells authorities concerned to finalise matter early
2 years, 6 months ago

Import duty waiver on cotton: Piyush Goyal tells authorities concerned to finalise matter early

The Hindu  

Amid unprecedented rise in cotton and yarn prices in the current season, Union Minister Piyush Goyal has directed the authorities concerned to "finalise the matter early", as regards to the extension of import duty waiver on cotton till December 31. "As regards extension of the period of waiver of import duty up to December 31, 2022, Mr. Goyal directed the …

Rising cotton price: Stalin writes to PM seeking specific measures to aid textile industry
2 years, 7 months ago

Rising cotton price: Stalin writes to PM seeking specific measures to aid textile industry

The Hindu  

With the cotton and yarn prices going up, affecting the textile industry in Tamil Nadu, Chief Minister M.K. As an immediate measure, stock declaration for cotton and yarn may be made mandatory for all spinning mills so that ginners and cotton traders can obtain actual data on their availability, Mr. Stalin said in his letter to the Prime Minister. Though …

Monte Carlo, Arvind, 59 others make the cut for textile PLI sops
2 years, 8 months ago

Monte Carlo, Arvind, 59 others make the cut for textile PLI sops

Live Mint  

Monte Carlo Fashions Ltd, Arvind Ltd, Trident Ltd and Kimberly Clark India Pvt. “The proposed total investment expected from the applicants is ₹19,077 crore, and the projected turnover is ₹184,917 crore over five years with proposed direct employment of 240,134,” Union textiles secretary U.P. In December, the government approved the PLI scheme for textiles, offering incentives worth ₹10,683 crore over …

Explained | Will the new Production-Linked Incentive scheme help textile industry?
3 years, 3 months ago

Explained | Will the new Production-Linked Incentive scheme help textile industry?

The Hindu  

The story so far: Ten months after it first approved a Production-Linked Incentive scheme for the textile sector, the Union Cabinet cleared it on September 8, after the Ministry of Textiles incorporated suggestions from the industry. The product lines include 40 in man-made fibre apparel, 14 in man-made fibre fabrics, and 10 technical textile segments/products. Editorial | Catching up: On …

Catching up: The Hindu Editorial on Production-Linked Incentive scheme for textile sector
3 years, 3 months ago

Catching up: The Hindu Editorial on Production-Linked Incentive scheme for textile sector

The Hindu  

The Cabinet’s approval of a Production-Linked Incentive scheme for the textile sector that is expressly targeted at the man-made fibre and technical textiles segments is a belated acknowledgment by the Government that the ground has inexorably shifted in the global textiles trade. Wednesday’s decision on the focused PLI scheme, with a budgeted outlay of ₹10,683 crore, is the second time …

Aim to increase textiles exports to $100 billion: Piyush Goyal tells exporters
3 years, 3 months ago

Aim to increase textiles exports to $100 billion: Piyush Goyal tells exporters

India TV News  

India's textile exporters must aim to increase exports to $100 billion at the earliest, Union Minister Piyush Goyal said on Friday. In an interactive session with the country's textile industry held here, the Union Minister for Commerce & Industry, Textiles, Consumer Affairs and Public Distribution said: "We must aim to increase textiles exports three times from present export value of …

Explaining Pakistan’s flip-flop on trade with India
3 years, 8 months ago

Explaining Pakistan’s flip-flop on trade with India

The Hindu  

Pakistan’s double U-turn on resuming trade with India highlights the internal differences within Ministries, between business and political communities, and the emphasis on politics over economy and trade. On March 31, Pakistan’s new Finance Minister Hammad Azhar, announced Pakistan’s Economic Coordination Committee ’s decision to import cotton, yarn, and 500,000 metric tons of sugar from India. The Dawn quoted Mr. …

Pakistan’s textile industry upset as govt. rejects cotton import proposal from India
3 years, 8 months ago

Pakistan’s textile industry upset as govt. rejects cotton import proposal from India

The Hindu  

Pakistan’s struggling textile industry has voiced its disappointment after the Imran Khan government rejected a proposal to import cotton from India, the world's biggest producer, saying it is the need of the hour to avoid a massive export decline, a media report said on Friday. The federal Cabinet headed by Prime Minister Khan on Thursday rejected the proposal of a …

Pakistan May Resume Import of Cotton from India: Report
3 years, 9 months ago

Pakistan May Resume Import of Cotton from India: Report

News 18  

Pakistan may allow cotton import from India through land route as prospects of gradual restoration of bilateral trade ties have brightened after the new ceasefire agreement along the Line of Control, according to a media report on Sunday. Citing sources in the Ministry of Commerce, The Express Tribune reported that Adviser to the Prime Minister on Commerce Abdul Razak Dawood …

Mills association seeks rollback of duty on cotton imports
3 years, 10 months ago

Mills association seeks rollback of duty on cotton imports

The Hindu  

The Southern India Mills’ Association has sought a rollback of the 10% customs duty on cotton imports announced in the Union Budget, as it would escalate the cost of garments and result in higher import of garments, especially from countries such as Bangladesh and Sri Lanka. Ashwin Chandran, chairman of Southern India Mills’ Association, said that India imports mainly extra-long …

Budget 2021: Govt may increase customs duty on certain components, says report
3 years, 10 months ago

Budget 2021: Govt may increase customs duty on certain components, says report

Live Mint  

Union Finance Minister Nirmala Sitharaman will present Prime Minister Narendra Modi-led NDA government's eighth budget on February 1 amid the Covid-19 pandemic and under the unprecedented economic crisis triggered by it. This time, the Central Government may increase the customs duty on certain components, sources told ANI on Wednesday. According to the sources, to boost the Make in India initiative, …

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