FIEO Lauds Duty Free Import of Raw Cotton to Push Exports of Value-Added Cotton Textile

[FIEO/MC/PR/05/2022-23 dated April 13, 2022]

Thanking the Finance and Textile Ministers for reducing the customs duty on raw cotton from 10% to Zero, Dr A Sakthivel, President, FIEO said that it will push exports of apparel and made-ups sectors significantly by softening the prices of yarn and fabrics as well.

FIEO Chief said that cotton textile exports will get further boost as the high prices of cotton were blunting the competitive edge. He added that India has increased its market share in apparel exports in the US and many countries recently and the signing of CEPA with UAE and Australia will further accelerate it. Similar arrangements are being worked out with the UK, Canada, EU, GCC and SACU.

Dr Sakthivel said that the Government has provided all support to the textile sector and we should endeavour to reach US$ 100 Bn of textile exports by 2030.