India intends to significantly reduce cotton import tariffs

by:JIYALI     2021-08-14
It is reported that in order to alleviate the problem of high raw material costs faced by local garment factories in India, the Indian government plans to lower the import tariffs on cotton, plans to reduce the import tariffs on cotton from the current 10% to 5%, and plans to abolish the existing 4.5% cotton Import surcharges and a 1% export tax rebate measure for related packaging materials; it is planned to impose zero tariffs on cotton imported from least developed countries in Africa (this measure includes one of the measures to provide tariff-free treatment to least developed countries announced a few days ago) List).  According to analysis, the tax reduction plan will be part of a package of measures to be introduced by the Indian government to reduce the cost of raw materials for the clothing industry. In addition, the Indian government is actively formulating other related measures.
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