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Stalin urges Centre to scrap 11 pc import duty on cotton
Chief Minister MK Stalin on Monday urged the Centre to remove 11 per cent import duty levied on cotton, rework terms for e-auction of cotton to help Micro Small and Medium Enterprises and extend 5 per cent interest subvention to spinning mills for procurement.
By
migrator
migrator
Chennai
Citing representations from apparel manufacturers on the “grave situation of cotton and yarn price volatility and its impact on the prices of fabrics and garments,” Stalin in a letter to Union Textiles Minister Piyush Goyal sought measures to address the situation and protect the textile industry.
“The present crisis has led to mass cancellation of export orders and hardships in fulfilling long term export commitments,” he said. The letter, dated November 27 was released to the media on Monday.
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