Indian Government issued a notification in mid-April for withdrawing complete import duty on cotton from 14 April 2022 to 30 September 2022 and that’s a major relief for the industry!
With no negative impact on our farmers, the Government’s initiative will benefit the entire supply chain.
The industry is able to get the much needed support from the Government now and the proactiveness of the Government is visible on many fronts, be it its focus on cotton supply chain, or PLI scheme in which a total of 61 applications have been finalised. If industry bodies’ estimates are anything to go by, the textile and apparel industry would be able to surpass the export target of US $ 16.96 billion (up 25 per cent Y-o-Y) set for the cotton value chain.
Meanwhile, don’t miss exploring what the second edition of our premium sourcing show – Apparel Sourcing Week – offers to the apparel industry. Be a part of this much-awaited sourcing event that’s scheduled for July 1-2, 2022 at Sheraton Grand Hotel in Bengaluru.
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