Demand crunch: Textile sector bats for stimulus, cotton import duty removal

There is a shortage of demand for textile goods globally due to the Ukraine-Russia war

Textile industry players are batting for removal of import duty on cotton and a stimulus from the government after being hit by a dip in demand due to the global financial crisis and the Ukraine war. The industry has been also affected by the rise in Indian raw cotton prices, which are at least 10-20 per cent higher than international cotton right now.

“The rate of Indian raw cotton is 10-20 per cent higher than the international cotton, including the Chinese cotton. This makes Indian spinning mills not to source cotton from India due to the higher rate. At the