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

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

The government last month exempted all customs duty on import of cotton till September 30, to lower the price of cotton in public interest.

The minister for Textiles and Commerce & Industry held an interactive meeting with the newly constituted Textile Advisory Group in Mumbai on Saturday to address issues relating to augmenting present supplies of cotton and also strengthening productivity.

To meet the present requirement, the minister called for facilitating import from destinations where stocks are available and resolving procedural requirements.