Govt imposes minimum import price of USD 3.5 per kg on synthetic knitted fabrics

New Delhi, Oct 21 (PTI) The government on Tuesday announced a minimum import price (MIP) of USD 3.5 per Kg on synthetic knitted fabrics.

The Directorate General of Foreign Trade (DGFT), in a notification, said that inputs imported by advance authorisation holders, units in special economic zones and export-oriented units shall be exempted from the MIP condition, subject to a norm that the imported inputs are not sold into the domestic tariff area.

"Import of synthetic knitted fabrics....shall remain restricted and subject to MIP condition of USD 3.5 per Kg, except for fabrics falling within the 28 to 48 grams per square meters range," it said. PTI RR BAL BAL