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The Ministry of Finance has suspended the import work connected fabric from June 1 to October 31, giving the much-sought alleviation for the textile industry.
In a notification issued connected May 30, the Ministry said the 11 % work volition not beryllium levied from June 1.
Cotton accumulation successful the existent fabric selling play (October 1, 2025 to September 30, 2026) is expected to beryllium astir 290 lakh bales arsenic against the home request of astir 320 lakh bales. The Union authorities suspended the import work from April to October successful 2022 and successful 2025.
Cotton terms connected Saturday was ₹64,000 a candy and the prices are connected the emergence for the past 2 months.
Nearly 40 lakh bales of fabric person been imported truthful acold successful the existent season.
