Textile industry seeks urgent removal of 11% cotton import duty: Gherzi's Navdeep Sodhi
New Delhi, May 7 -- India's textile industry has sought the removal of the 11 per cent import duty on cotton, warning that rising domestic cotton prices and falling productivity are hurting the competitiveness of the sector, according to a Gherzi-ICAC study released by the Confederation of Indian Textile Industry (CITI).
Speaking on the findings of the study, Navdeep S Sodhi, Partner at Gherzi Textile Organisation, said the import duty has emerged as a major short-term challenge for the textile industry.
"We have identified the short-term issue that is the 11 per cent import duty on cotton because that is increasing the cost of raw material for our industry. So that issue needs to be addressed with urgency," Sodhi told ANI.
He further ...
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