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Date: 16-Oct-2024 Category: Extra Ordinary State: Union Government Country: India

Imposition of Minimum Import Price on Synthetic Knitted Fabrics up to 31st December 2024

Issued by Ministry of Commerce and Industry · Directorate General of Foreign Trade

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Executive Summary & Key Takeaways

What it means

  • This gazette notification from the Ministry of Commerce and Industry, Directorate General of Foreign Trade (DGFT), India, announces the extension and expansion of Minimum Import Price (MIP) on synthetic and other knitted fabrics.
  • It modifies the existing import policy, impacting several ITC (HS) codes related to knitted fabrics.

Key Changes

  • Extension of existing MIP on 5 ITC (HS) codes of synthetic knitted fabrics from September 15, 2024, to December 31, 2024.
  • Imposition of a new MIP of US$ 3.50 per kilogram on CIF value for 8 additional ITC (HS) codes covering various types of knitted fabrics (including cotton and artificial fiber fabrics). These new MIPs are effective immediately and also run until December 31, 2024.
  • The affected ITC (HS) codes cover a range of synthetic, cotton, and artificial fiber knitted fabrics, with varying treatments (bleached, dyed, printed, etc.).
  • The previous import policy for the affected ITC (HS) codes was 'Free'; it is now changed to 'Prohibited' unless the CIF value meets the minimum price threshold.

Impact Analysis

Domestic Textile Industry

  • Potential negative impact: Higher input costs if domestic producers rely on imported raw materials, reduced competitiveness in export markets if the MIP impacts global pricing.

Importers of Knitted Fabrics

  • Action Item: Importers need to assess the impact on their cost structure and pricing strategies. They might need to explore alternative sources or adjust their import volumes.

Consumers

  • Potential positive impact (indirect): Support for domestic textile industry and jobs.

Government

  • Action Item: Monitor the impact of the MIP on domestic production, prices, and trade balances. Consider adjustments to the policy based on market feedback.

Key Entities Referenced

Ministry of Commerce and Industry: Issuing authority of the notification; responsible for regulating foreign trade in India. Directorate General of Foreign Trade (DGFT): The implementing agency for the notification's provisions. Foreign Trade Policy, 2023: The policy framework under which this notification is issued. FT (D&R) Act, 1992: The legal basis for the government's power to impose the MIP. Notification No. 77/2023 dated 16.03.2024: The previously issued notification that this notification partially modifies. ITC (HS) Codes: The specific harmonized system codes identifying the affected knitted fabrics.
Official Source Record View Original Source →
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-18102024-258042 CG-DxLx-xEG-I1D8H1x0x2x0 24-258042 xxxGIDExxx असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (ii) PART II—Section 3—Sub-section (ii) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 4177] नई दिल्ली, बुधवार, अक्त बू र 16, 2024/आजिन 24, 1946 No. 4177] NEW DELHI, WEDNESDAY, OCTOBER 16, 2024/ASVINA 24, 1946 ( ) ( ) अजधसचू ना नई दिल्ली, 1 अक् तूबर, 2024 का.आ. 4541(अ).—le;&le; ij ;Fkk la'kksfèkr fon's k O;kikj uhfr] 2023 ds iSjkxzkQ 1-02 vkSj 2-01 ds lkFk ifBr fons' O;kikj ¼fodkl ,oa fofu;eu½ vfèkfu;e] 1992 dh èkkjk 3 vkSj èkkjk 5 }kjk çnÙk 'kfä;ks a dk ç;ksx djrs gq, vkSj vf/klwpuk la[;k 77@2023 fnukad 16-03-2024 eas vkaf' d la' ks/ku djrs gq,] dsæa ljdkj ,rn~}kjk flaFksfVd cqus gq, diM+ks a ds fuEufyf[kr 5 vkbZVhlh ¼,p,l½ dksM+ksa ij U;wure vk;kr eYw ; ¼,evkbZih½ dh le; lhek 15 flracj] 2024 ls c<k+dj 31 fnlEcj] 2024 djrh gS% 60063100 &—f=e js'kks a eqDr fuf"k) - rFkkfi] ;fn lhvkÃ,Q ewY; 3-5 vesfjdh dk%&&fcuk ç{kkfyr ;k M‚yj vkSj blls vf/kd izfr fdyksxzke gS ç{kkfyr rks vk;kr *eqDr* gS 6734 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] 60063200 &—f=e js'kks a dk% eqDr fuf"k) - rFkkfi] ;fn lhvkÃ,Q ewY; 3-5 vesfjdh &&jaxk gqvk M‚yj vkSj blls vf/kd izfr fdyksxzke gS rks vk;kr *eqDr* gS 60063300 &—f=e js'kks a dk% && eqDr fuf"k) - rFkkfi] ;fn lhvkÃ,Q ewY; 3-5 vesfjdh fofHkUu jxa ks a ds èkkxks a dk M‚yj vkSj blls vf/kd izfr fdyksxzke gS rks vk;kr *eqDr* gS 60063400 &—f=e js'kks a dk%&eqfær eqDr fuf"k) - rFkkfi] ;fn lhvkÃ,Q ewY; 3-5 vesfjdh M‚yj vkSj blls vf/kd izfr fdyksxzke gS rks vk;kr *eqDr* gS 60069000 && vU; eqDr fuf"k) - rFkkfi] ;fn lhvkÃ,Q ewY; 3-5 vesfjdh M‚yj vkSj blls vf/kd izfr fdyksxzke gS rks vk;kr *eqDr* gS 2- vf/klwpuk la[;k 77@2023 fnukad 16-03-2024 es a vU; lHkh fu;e vkSj ' rsZa vifjofrZr jgsxa hA 3- mijksDr ds vykok] dsæa ljdkj ,rn~}kjk 31 fnlcaj] 2024 rd dh vofèk ds fy, vkÃVhlh ¼,p,l½ 2022 dh vuqlwph&I ¼vk;kr uhfr½ ds vè;k; 60 ds varxZr fuEufyf[kr vkÃVhlh ¼,p,l½ dksM dh vk;kr uhfrxr ' rZ dks Hkh rRdky izHkko ls fuEukuqlkj la'kksfèkr djrh gSS% 60019200 & vU; %&& ekuo fufeZr js’kks a dk eqDr fuf"k) - rFkkfi] ;fn lhvkÃ,Q ewY; 3-5 vesfjdh M‚yj vkSj blls vf/kd izfr fdyksxzke gS rks vk;kr *eqDr* gS 60041000 30 lseh l s vf/kd pkSM+kbZ okys cuq s eqDr fuf"k) - rFkkfi] ;fn lhvkÃ,Q ewY; 3-5 gq, ;k Øksf'k;k—r diM+]s ftues a Hkkj vesfjdh M‚yj vkSj blls vf/kd ds fglkc ls 5 çfr'kr ;k mlls izfr fdyksxzke gS rks vk;kr *eqDr* vf/kd bykLVksesfjd ;kuZ ;k jcj gS /kkxk gks] tks 'kh"kZd 60-01 ds vra xZr vkus okys diM+ks a ls fHkUu gksAa 60049000 & vU; eqDr fuf"k) - rFkkfi] ;fn lhvkÃ,Q ewY; 3-5 vesfjdh M‚yj vkSj blls vf/kd izfr fdyksxzke gS rks vk;kr *eqDr* gS 60053600 &—f=e js'kks a dk%& eqDr fuf"k) - rFkkfi] ;fn lhvkÃ,Q ewY; 3-5 vesfjdh M‚yj vkSj blls vf/kd vU;] fcuk iz{kkfyr ;k iz{kkfyr izfr fdyksxzke gS rks vk;kr *eqDr* gS 60053790 &&& vU; eqDr fuf"k) - rFkkfi] ;fn lhvkÃ,Q ewY; 3-5 vesfjdh M‚yj vkSj blls vf/kd izfr fdyksxzke gS rks vk;kr *eqDr* gS 60053900 & flaFksfVd Qkbcj dk%& vU;] eqDr fuf"k) - rFkkfi] ;fn lhvkÃ,Q ewY; 3-5 vesfjdh M‚yj vkSj blls vf/kd[भाग II—खण् ड 3(ii)] भारत का रािपत्र : असाधारण 3 eqfnrz izfr fdyksxzke gS rks vk;kr *eqDr* gS 60062200 & dikl dk % && jaxk gqvk eqDr fuf"k) - rFkkfi] ;fn lhvkÃ,Q ewY; 3-5 vesfjdh M‚yj vkSj blls vf/kd izfr fdyksxzke gS rks vk;kr *eqDr* gS 60064200 & —f=e js'kks a dk% && jaxk gqvk eqDr fuf"k) - rFkkfi] ;fn lhvkÃ,Q ewY; 3-5 vesfjdh M‚yj vkSj blls vf/kd izfr fdyksxzke gS rks vk;kr *eqDr* gS flaFksfVd cqus gq, diM+ksa ij U;wure vk;kr ewY; ¼,evkbZih½ dks 15 flrEcj] 2024 ls c<k+dj 31 fnlEcj] 2024 dj fn;k x;k gSA blds vykok] 31 fnlEcj] 2024 rd dh vof/k ds fy, fofHkUu izdkj ds cqu s gq, diM+ksa ds 08 u, vkbZVhlh ¼,p,l½ dksMks a ij Hkh lhvkbZ,Q ewY; ij 3-50 vefsjdh M‚yj çfr fdyksxzke dk ,evkbZih yxk;k x;k gSA bls okf.kT; ,oa m|ksx ea=h ds vuqeksnu ls tkjh fd;k tkrk gSA [फा. सं. [ ] ] MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF FOREIGN TRADE) NOTIFICATION New Delhi, the 1st October, 2024 No. 33 /2024-25 Subject: Imposition of Minimum Import Price on Synthetic Knitted Fabrics up to 31st December 2024 – reg. S.O. 4541(E).—In exercise of powers conferred by Section 3 and Section 5 of FT (D&R) Act, 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy, 2023, as amended from time to time, and in partial modification to Notification No. 77/2023 dated 16.03.2024, the Central Government hereby extends the condition of Minimum Import Price (MIP) on the following 5 ITC (HS) Codes of Synthetic Knitted Fabrics from 15th September, 2024 to 31st December 2024 as under : ITC(HS) Code Item Description Existing Revised Import Existing Revised Policy Condition Import Policy Policy Policy Condition 60063100 -Of synthetic fibres : -- Free Prohibited - However, import is ‘Free’ if Unbleached or bleached CIF value is 3.5 US Dollar and above per Kilogram 60063200 -Of synthetic fibres : -- Free Prohibited - However, import is ‘Free’ if Dyed CIF value is 3.5 US Dollar and above per Kilogram 60063300 -Of synthetic fibres : -- Free Prohibited - However, import is ‘Free’ if Of yarns of different CIF value is 3.5 US Dollar colours and above per Kilogram 60063400 -Of synthetic fibres : -- Free Prohibited - However, import is ‘Free’ if CIF value is 3.5 US Dollar4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] Printed and above per Kilogram 60069000 -- Other Free Prohibited - However, import is ‘Free’ if CIF value is 3.5 US Dollar and above per Kilogram 2. All other terms and conditions in the Notification No. 77/2023 dated 16.03.2024 shall remain unchanged. 3. In addition to the above, the Central Government hereby revises the Import Policy Condition of the following ITC (HS) Codes under Chapter 60 of ITC(HS) 2022, Schedule-I (Import Policy), for the period upto 31st December, 2024, with immediate effect: ITC(HS) Item Description Existing Revised Existing Revised Policy Code Import Import Policy Condition Policy Policy Condition 60019200 - Other : -- Of man-made fibres Free Prohibited - However, import is ‘Free’ if CIF value is 3.5 US Dollar and above per Kilogram 60041000 Knitted or crocheted fabrics of a width Free Prohibited - However, import is exceeding 30 cm, containing by weight 5 ‘Free’ if CIF value is percent or more of elastomeric yarn or 3.5 US Dollar and rubber thread, other than those of heading above per Kilogram 60.01. 60049000 - Other Free Prohibited - However, import is ‘Free’ if CIF value is 3.5 US Dollar and above per Kilogram 60053600 - Of synthetic fibres : -- Other, unbleached Free Prohibited - However, import is or bleached ‘Free’ if CIF value is 3.5 US Dollar and above per Kilogram 60053790 --- Other Free Prohibited - However, import is ‘Free’ if CIF value is 3.5 US Dollar and above per Kilogram 60053900 - Of synthetic fibres : -- Other, printed Free Prohibited - However, import is ‘Free’ if CIF value is 3.5 US Dollar and above per Kilogram 60062200 - Of cotton : -- Dyed Free Prohibited - However, import is ‘Free’ if CIF value is 3.5 US Dollar and above per Kilogram 60064200 - Of artificial fibres : -- Dyed Free Prohibited - However, import is ‘Free’ if CIF value is 3.5 US Dollar and above per Kilogram Effect of the Notification: Minimum Import Price (MIP) on Synthetic Knitted Fabrics is extended from 15th September 2024 to 31st December 2024. Further, MIP of US Dollar 3.50 per Kilogram on CIF Value has also been imposed on 08 new ITC (HS) Codes of various kinds of Knitted fabrics for the period up to 31st December, 2024. This is issued with the approval of Minister of Commerce & Industry. [F. No. 01/89/180/Misc-39/AM-05/PC-2[A]/E-1425] SANTOSH KUMAR SARANGI, Director General of Foreign Trade & Ex- officio Addl. Secy. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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