India, Aug. 19 -- The government of India has exempted import duties on cotton till September 30 in what is being seen as a relief for country's garment industry, which is reeling from the 50 per cent tariff on shipments to the United States.
The temporary suspension of the duty, announced in a government order late on Monday, comes into effect from August 19.
US President Donald Trump has imposed 50 per cent tariff on India - comprising an existing 25 per cent levy and an additional 25 per cent set to take effect later this month as a penalty for Russian oil purchase.
Before the exemption, cotton imports were subject to an 11 per cent duty.
Through a notification issued by the ministry of finance, the Central Board of Indirect Taxes ...
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