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In India, Costly Cotton Import Tax Meets ‘Liquidity Crisis’

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India might be the world’s biggest cotton exporter, but the nation’s garment manufacturers are facing an increasingly dire predicament. Last week, industry representatives petitioned textile minister Piyush Goyal to repeal the 11 percent tax on imported cotton or risk the sector’s implosion. “In today’s scenario, cotton supplies are not in hand. It takes six months…

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