Govt extends cotton import duty relief

The government has extended the customs duty exemption on cotton imports by two months till December 31, 2026, to improve supplies and ease input costs for the domestic textile and apparel industry, PTI reported on Saturday.The extension follows the five-month exemption announced in May, which was due to expire on October 31.The move is expected to improve cotton availability in the domestic market and provide relief to textile manufacturers, particularly small and medium enterprises.The Finance Ministry said the extension was expected to reduce input costs across the textile and apparel sector, benefiting both manufacturers and consumers while keeping the interests of domestic farmers in mind, as per the report.It also expected the measure to support the performance of the domestic textile industry.