DGFT issued Notification No. 77/2023 dated 16.03.2024 imposing minimum import price on synthetic knitted fabrics up to 15.09.2024.
In exercise of powers conferred by Section 3 read with 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, the Central Government hereby revises the import policy and import policy condition of the ITC (HS) Codes viz 60063100, 60063200, 60063300, 60063400, 60069000 under chapter 60 of ITC (HS) 2022, Schedule I (Import Policy), for the period up to 15.09.2024.
2. The existing ‘Free’ import policy, as it stands prior to the issuance of this Notification shall be in effect starting from 16.09.2024, unless expressly amended by subsequent notification.
Effect of the Notification: Minimum import price of US Dollar 3.50 per kilogram is imposed on (5) specific synthetic knitted fabrics ITC (HS) codes for the period up to 15.09.2024. The existing ‘Free’ import policy, as it stands prior to the issuance of this notification, shall be in effect starting from 16.09.2024, unless expressly amended by subsequent notification.
The notification is issued with the approval of Minister of Commerce & Industry.
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