Textile & Apparel
Textiles
Indian government imposes MIP on 13 synthetic knitted fabric codes
Oct 01, 2024
Insights
- Indian government has extended MIP on 13 synthetic knitted fabric codes to $3.50 per kilogram, effective from September 15 to December 31, 2024.
- This aims to protect domestic producers from underpriced imports.
- Eight new HSN codes were added, while five were already under MIP since March 2024.
- Industry bodies, including NITMA, supported this measure, but warn that vigilance is necessary.