Cotton Import Duty Exemption Extended to December 31
India has extended its customs duty exemption on cotton imports until December 31, 2026. The earlier exemption, which had run for five months, was due to end on October 31. The extension aims to improve cotton supply and reduce costs for the textile industry, which uses cotton to make fabric and clothing.
Context
Context: Customs duty is a tax on imported goods, and India often adjusts it on cotton to balance mill supply against farmers' prices. Spinning mills and garment makers depend on cotton, so changes to the duty affect their costs.
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