Minimum Import Price extended for five categories of knitted fabrics 

Representational image only.
| Photo Credit: The Hindu

The Department of Commerce has extended the Minimum Import Price on five categories of knitted fabrics till December 31, in a move to curb fabric imports.

According to a notification issued on Tuesday (October 1, 2024), synthetic, manmade fibre, and cotton knitted fabrics under 13 HSN codes are now under prohibited list of imports. “The imports will, however, be free if the value of the fabric is $3.5 per kg or more,” it said.

Industry sources said the Government introduced minimum import price on certain categories of knitted fabrics earlier this year. It is extended till December 31 for these five categories and the government has added eight more categories based on representations from trade and industry. “This will bring down cheap import of fabrics, especially from China,” they said.