India extends cotton import duty exemption amid US tariff pressure
Summary
India has extended the import duty exemption on cotton imports until the end of December to support its local garment industry amid increased US tariffs on Indian goods.
Key Points
- India extended the import duty exemption on cotton to December 31 to aid its garment industry.
- The exemption was initially set to expire in September but was extended by three months.
- US tariffs on Indian garments and jewellery were increased to as much as 50%.
- India is the world's second-largest cotton producer and a key supplier to the US garment market.
