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India may restructure customs duty on knitted fabric to curb imports

23 Jan '24
3 min read
Pic: Adobe Stock
Pic: Adobe Stock

Insights

  • Indian textile industry faces a challenge from Chinese knitted fabric imports, believed to be under-invoiced.
  • Industry representatives and government discussed solutions, including potential customs duty restructuring to address HSN code manipulation.
  • Industry suggests minimum import price of $4.5-5 per kg, contrasting with the current $1.40-1.50 per kg.

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