The Southern India Mills’ Association (SIMA) has fervently appealed to the Union Finance Minister to withdraw the cotton import duty, as the duty is severely hurting the global competitiveness of the Indian textile and clothing industry.
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According to the Southern India Mills’ Association (SIMA), the import duty on raw cotton would erode the competitiveness India’s value-added segments that has a business size of around Rs 50,000 crores in exports and Rs 25,000 crores in the domestic market.
According to the Southern India Mills’ Association (SIMA), the import duty on raw cotton would erode the competitiveness India’s value-added segments that has a business size of around Rs 50,000 crores in exports and Rs 25,000 crores in the domestic market.
Southern India Mills’ Association (SIMA) said that stopping textile units in Tamil Nadu during night hours and on Sundays would affect the production activities, exports and also the jobs of several lakhs of workers.
Though India has become the largest producer of cotton in the world, the country faces acute shortage of Extra Long Staple (ELS) cotton as the BT technology that was introduced during 2003, provided the technology only for long staple cotton.
The industry has been pleading the government to remove anti-dumping duty of USD 0.103 to 0. 512 per kg imposed on the VSF during the last several years, which is under active consideration
10 per cent import duty on cotton is a severe blow for cotton textile value chain.
SIMA appeals PM for withdrawal.