India: Government Rescinds Import Duty on Premium Cotton

On February 19, the Government of India (GOI) published a notification that rescinded -effective February 20- the import duty of 10 percent for cotton with a staple length above 32 millimeters (mm). This revokes the previous import duty that included a five percent basic customs duty and a five percent tax. The reduction in duty should support increased imports of high value cotton used for the manufacturing of premium cotton textiles and apparels for this season, as well as medium term requirements.