Customs duty on cotton imports disappoints textile sector
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‘It will make import of branded cotton expensive’
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‘It will make import of branded cotton expensive’
The textile and clothing sector here has expressed disappointment over the levy of customs duty on cotton imports in the Union Budget.
Manoj Patodia, chairman of the Cotton Textiles Export Promotion Council, said that the plan to establish seven mega investment textile parks in three years was a positive step towards making the industry globally competitive. It would attract investments and boost employment. However, the plan to levy customs duty on cotton imports would make import of branded cotton expensive.