FIEO duty free import of cotton to push cotton textile exports

Thanking the Union Finance and Textile Ministers for reducing the customs duty on raw cotton from 10 per cent to zero, Dr A Sakthivel, President, FIEO said it will push exports of apparel and made-ups sectors by softening the prices of yarn and fabrics as well. He said cotton textile exports will get a boost as the high prices of cotton were blunting the competitive edge. He added that India has increased its market share in apparel exports in the US and many countries recently and the signing of CEPA with UAE and Australia will accelerate it.