India cancels cotton yarn export stimulus

India cancels cotton yarn export stimulus A few days ago, the General Administration of Foreign Trade of India announced the cancellation of export stimulus policies for cotton and yarns. Under the "Focus Market Plan" and the "Incremental Export Stimulus Plan", Indian cotton and cotton yarn exports can enjoy about 3-4% tax benefits at FOB prices.

When the New Deal came out, it immediately caused a shock in the domestic Indian industry. The Indian Textile Union stated that the prospects for the export of cotton yarn in India are in the ascendant. The government should resume the export stimulus policy as soon as possible. The South India Textile Mill Association said that the current supply of domestic cotton is very sufficient. In recent days, the demand for yarn exports from India has weakened and the prices have dropped. At this time, there is no reason to cancel the preferential export policies, and the competitiveness and credibility of the Indian industry will be greatly affected.

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