The Government of India has extended the Minimum Import Price (MIP) on synthetic knitted fabrics until December 31, 2024. This extension applies to various fabrics under eight additional ITC (HS) codes. The MIP has been set at a CIF value of USD 3.50 per kilogram for imports to be classified as “free.” If the CIF value is below this threshold, the imports will be prohibited. These changes are an extension and partial modification of the previous notification issued in March 2024. The affected fabric categories include unbleached, bleached, dyed, printed, and other synthetic fiber variants. This policy aims to regulate the import of synthetic knitted fabrics into India, ensuring fair trade practices. The government has exercised its powers under the Foreign Trade Policy 2023 and the Foreign Trade (Development & Regulation) Act, 1992. All other conditions of the previous notification will remain unchanged. The notification has been issued by the Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce & Industry. This extension affects both existing and newly added fabric categories. The move is aimed at managing import prices and supporting domestic industries involved in synthetic fabric production.
Government of India
Ministry of Commerce & Industry
Department of Commerce
Directorate General of Foreign Trade
Vanijya Bhawan
Notification No. 33/2024-25-DGFT | Dated: 1st October, 2024
Subject: Imposition of Minimum Import Price on Synthetic Knitted Fabrics up to 31st December 2024 —reg.
S.O.: 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 Import Policy |
Revised Import Policy |
Existing Policy Condition |
Revised Policy Condition |
| 60063100 | -Of synthetic fibres : — Unbleached or bleached | Free | Prohibited | – | However, import is Tree’ if CIF value is 3.5 US Dollar and above per Kilogram |
| 60063200 | -Of synthetic fibres : — Dyed | Free | Prohibited | However, import is *Free’ if CIF value is 3.5 US Dollar and above per Kilogram | |
| 60063300 | -Of synthetic fibres : — Of yarns of different colours |
Free | Prohibited | However, import is ‘Free’ if CIF value is 3.5 US Dollar and above per Kilogram | |
| 60063400 | -Of synthetic fibres : — Printed | Free | Prohibited | However, import is Free’ if CIF value is 3.5 US Dollar 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(IIS) Code | Item Description | Existing Import Policy |
Revised Import Policy |
Existing Policy Condition |
Revised 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 exceeding 30 cm, containing by weight 5 percent or more of elastomeric yarn or rubber thread, other than those of heading 60.01. |
Free | Prohibited | – | However, import is ‘Free’ if CIF value is 3.5 US Dollar and above per Kilogram |
| 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 or bleached | Free | Prohibited | – | However, import is `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 Tree’ 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 Tree” 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 (I-IS) 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.
(Santosh Kumar Sarangi)
Director General of Foreign Trade &
Ex- officio Addl. Secretary to the Government of India
E-mail: [email protected]
(Issued from F. No. 01/89/180/Misc-39/AM-05/PC-2[A]/E-1425)
