By A V International January 16, 2025

Amendment in Import Policy and Import Policy Condition of Synthetic Knitted Fabrics Covered under Chapter 60 of the ITC (HS)

The Central Government has extended the Minimum Import Price (MIP) on Synthetic Knitted Fabrics under 13 specific ITC (HS) codes. Originally set to end on 31st December 2024, the MIP will now remain in effect from 1st January 2025 to 31st March 2025.

This extension is in line with the powers conferred by the Foreign Trade (Development and Regulation) Act, 1992, and is issued in partial modification of earlier notifications (No. 77/2023 and No. 33/2024-25).

The move aims to safeguard the domestic textile industry by regulating the import of synthetic knitted fabrics during this period.

ITC (HS) CODE	ITEM DESCRIPTION	REVISED IMPORT POLICY	POLICY CONDITION
60063100	Of synthetic fibres- unbleached or bleached	Restricted	However, import is ‘Free’ if CIF value is 3.5 US Dollar and above per Kilogram
60063200	Of synthetic fibres- Dyed	Restricted	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	Restricted	However, import is ‘Free’ if CIF value is 3.5 US Dollar and above per Kilogram
60063400	Of synthetic fibres- Printed	Restricted	However, import is ‘Free’ if CIF value is 3.5 US Dollar and above per Kilogram
60069000	Other	Restricted	However, import is ‘Free’ if CIF value is 3.5 US Dollar and above per Kilogram
60019200	Other- Of manmade fibres	Restricted	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.	Restricted	However, import is ‘Free’ if CIF value is 3.5 US Dollar and above per Kilogram
60049000	Other	Restricted	However, import is ‘Free’ if CIF value is 3.5 US Dollar and above per Kilogram
60053600	Of synthetic fibres- other, unbleached or bleached	Restricted	However, import is ‘Free’ if CIF value is 3.5 US Dollar and above per Kilogram
60053790	Other	Restricted	However, import is ‘Free’ if CIF value is 3.5 US Dollar and above per Kilogram
60053900	Of synthetic fibres-Other, printed	Restricted	However, import is ‘Free’ if CIF value is 3.5 US Dollar and above per Kilogram
60062200	Of cotton- Dyed	Restricted	However, import is ‘Free’ if CIF value is 3.5 US Dollar and above per Kilogram
60064200	Of artificial fibres- Dyed	Restricted	However, import is ‘Free’ if CIF value is 3.5 US Dollar and above per Kilogram

Minimum Import Price (MIP) condition on above item shall not be applicable for imports by Advance Authorization holders, Export Oriented Units (EOUs) and units in the SEZ subject to the condition that the imported inputs are not sold into Domestic Tariff Area (DTA).

Effects of The Notification- Import of Synthetic Knitted Fibrics under ITC (HS) 60063100, 60063200, 60063300, 60063400, 60069000, 60019200, 60041000, 60049000, 60053600, 60053790, 60062200, and 60064200 is “Restricted”. However, import is ‘Free’ if CIF value is 3.5 US Dollar and above per kilogram. Further, inputs imported by Advance Authorization holders, EOUs and SEZ shall be exempted from MIP condition.