Government Imposes Minimum Import Price on Synthetic Knitted Fabrics

The government has introduced a minimum import price (MIP) of USD 3.5 per Kg on synthetic knitted fabrics, with specific exemptions for certain imports. This measure aims to regulate imports under certain specifications except for fabrics within the 28 to 48 grams per square meter range.

The government has set a minimum import price (MIP) of USD 3.5 per kilogram for synthetic knitted fabrics.

According to a notification by the Directorate General of Foreign Trade (DGFT), exceptions include imports by advance authorization holders, units in special economic zones, and export-oriented units, as long as these imports do not enter the domestic tariff area.

The import of synthetic knitted fabrics will be restricted under the MIP, except for those weighing 28 to 48 grams per square meter.

(With inputs from agencies.)