Key facts
- Textile stocks like Gokaldas Exports, KPR Mill, Vardhman Textiles, and Trident saw gains up to 8%.
- The Indian government exempted cotton imports from customs duty for five months.
- The exemption is effective from June 1 until October 30.
- The policy aims to increase raw material availability and lower input costs for textile and apparel manufacturers.
The Indian government's decision to exempt cotton imports from customs duty for five months is a significant move aimed at bolstering the domestic textile and apparel industry. By reducing the cost of a key raw material, the policy seeks to enhance the competitiveness of manufacturers, particularly smaller ones, and ensure a stable supply chain.