Govt extends minimum import price on synthetic knitted fabrics till Dec 31

New Delhi: The government on Tuesday extended the minimum import price (MIP)of $3.5 per Kg on synthetic knitted fabrics till December 31 this year, to discourage inbound shipments of cheap fabrics.

“MIP on synthetic knitted fabrics is extended from September 15 to December 31,” the Directorate General of Foreign Trade (DGFT) said in a notification.

The MIP was also extended for eight new kinds of knitted fabrics including printed, bleached, unbleached and crocheted fabrics.