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Indian cotton import tax rates, or new growth - again Textile information - Textile net - Textile integrated service provider
Recently, the State Council issued a notice to adjust some of the country's import tariff again, a variety of textile and clothing products appear in the list. Among them, the part of the cotton yarns rate drop to 3. 5%, a drop by more than 30%, India exports cotton yarns could usher in a new growth of our country. Recently, the State Council tariffs commission published on implementation of the < - in Asia Pacific trade agreement> the second amendment agreement rate notification. Notice said, according to the regulations on the import and export tariff of the People's Republic of China and approved by the State Council's '< - in Asia The second amendment, Pacific trade agreement> since July 1, 2018, the native to Bangladesh, India, Laos, Korea, Sri Lanka for imported goods '< - in Asia Pacific trade agreement> the second amendment agreement rate. From the new agreement and tax rates table need to cut tariffs on imports of textile and apparel products, cotton products cut rate product is more, by about 30%. Some of the cotton yarn tax rate from 5% down to 3. 5% ( Individual cut to four. 5% and 5%) Changed from 10% to 6, the majority of the cotton fabrics. 5%. India was China's first major import source of cotton yarns, come back by Vietnam in 2015, is currently in second place. To cotton content more than 85% of the cotton yarns, for example, in 2017, our country India imports of such products, the total of 10. $6. 7 billion, accounting for China's imports of such products, global 21. And 06% of India's export share of the world's 44. 31%. Since 2010, our country from India began to surge in imports of cotton yarn, and then began to gradually reduce in 2013. The asia-pacific trade agreement rate cut cotton yarns, India is likely to increase as one of protocol signatories of cotton yarn exports to China, in this kind of products are exported to China's new growth. Be worth what carry is, nearly a decade of Vietnam textile industry developing rapidly, has now become the first big American cotton exports and yarn import in our country the first big country, in which Chinese enterprises invest in more depth.