Indian government pauses 11% cotton import duty until October 31
The Indian government has paused the 11% cotton import duty until October 31, giving spinning mills some breathing room.
The South India Spinners Association (SISPA) is glad for the relief but says this temporary move isn't enough.
SISPA points out that small and medium mills struggle with unpredictable cotton prices, especially when local supply and quality don't match up with global rates.
SISPA seeks automatic import duty cuts
To keep things fair long-term, SISPA is pushing for a permanent policy that would drop import duties whenever domestic and international prices get too far apart.
They also want Indian cotton to be priced competitively and more transparency in the market.
SISPA says, We need policies that protect farmers who deserve fair prices, and textile manufacturers who need quality raw materials at affordable prices.