A decision on removing import duty on cotton will be made after discussions with the Indian Agriculture Ministry; media reports quoted Indian Textiles Minister Piyuesh Goyal as saying.
“We have to balance the interests of both the textile industry and farmers. Following discussion with the Agriculture Ministry, we will make a decision,” Goyal said.
On the drop in textile and garment exports for one year; he informed that the markets for these products had been affected by the economic slowdown in several countries.
It may be noted here that the spinning industry in the Indian state of Tamil Nadu, which has 40 percent of Indian yarn production capacity, had gone on strike last month in protest against various issues.
One of them included scrapping the 11 percent customs duty on imported cotton, among other issues.
Indian cotton import duty will be removed after consultations
