The 10 percentage import duty levied on Cotton has been waived off completely by the Union Government of India starting 14th of April to 30th september 2022, which has delighted the industry, and the Open End Spinning Mills Association has stated that this will be the best Tamil new Year present to the industry.
Coimbatore: The central government announced that the 10 percent cotton import duty will be waived off from 14th April to 30th September 2022. The Open End Spinning Mills Association has thanked the Prime Minister and the Central government for the announcement.
The 10 percentage import duty levied on Cotton has been scrapped by the Union Government. This has delighted the industry, and the Open End Spinning Mills Association has stated that this will be the best Tamil new Year present to the industry.
G. Arulmozhi, Executive of the Tamil Nadu Open End Spinning Mills Association (OSMA), said "OSMA expresses its heartfelt gratitude to Prime Minister Modi for the complete removal of import duty on cotton as a Tamil New Year gift."
He stated that there is no doubt that the textile industry will witness a huge growth from the beginning of this Tamil New Year. With cotton prices reaching an all-time high, today's customs duty waiver will definitely go a long way in making cotton prices available to spinning mills at affordable prices, Arulmozhi said in his statement.
The 10 percentage import duty levied on Cotton has been scrapped by the Union Government. This has delighted the industry, and the Open End Spinning Mills Association has stated that this will be the best Tamil new Year present to the industry.
G. Arulmozhi, Executive of the Tamil Nadu Open End Spinning Mills Association (OSMA), said "OSMA expresses its heartfelt gratitude to Prime Minister Modi for the complete removal of import duty on cotton as a Tamil New Year gift."
He stated that there is no doubt that the textile industry will witness a huge growth from the beginning of this Tamil New Year. With cotton prices reaching an all-time high, today's customs duty waiver will definitely go a long way in making cotton prices available to spinning mills at affordable prices, Arulmozhi said in his statement.