India Textile Ministry Confirms That The Government Plans To Cut Cotton Import Tariff Drastically.
India's commerce minister recently claimed that the government had planned to cut it according to the requirements of the Ministry of textiles.
cotton
Import duties or prohibitions
cotton
Exit.
The Minister of Commerce has made it clear that the right time is right.
cotton
10% of the import duties and 4% of import duties will not be abolished in the near future.
He also said that because the price of raw materials in China is higher than that in the international market, it will not be prohibited.
cotton
Exit.
However, contrary to the Ministry of Commerce's speech and the Ministry of finance, federal textiles minister Mr Shankarsinh Vaghela told the media yesterday that the government is considering a substantial reduction.
cotton
Import duty.
"We have received proposals directly from the prime minister's office and the Ministry of finance," he said.
We must ensure the supply of raw materials for India textile factories.
Similarly, we should also ensure that India's cotton growers benefit from expanding international demand, and they should not be deprived of their due benefits because of export taxes. "
Global
cotton
Output from 26 million 600 thousand tons to 25 million 400 thousand tons, the actual demand growth has reached 27 million tons.
Due to tight supply and rising prices,
cotton
The problem has evolved into a global problem.
Nevertheless, Mr Vaghela predicts that textile exports will grow by 20% in the current fiscal year compared with $20 billion 900 million in 2007-08.
In the -6 month of January this year, the export of United States textiles increased by 4.8%, and the export growth to the EU was about 5%.
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