Rising cotton prices are set to hit profit margins of textile and apparel players due to their inability to pass on the high production cost on to consumers as seasonal demand is weak.
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The Indian Government has notified certain changes in the All Industry Rates of Duty Drawback vide Circular No. 06/2016-Customs dated February 9, 2016. These changes are effective from February 11, 2016. New entries in the Drawback Schedule have been created for cotton yarns mixed with MMF – both grey and dyed.