India reimposes MIP on 4 synthetic knitted fabric codes

India has reimposed a minimum import price (MIP) of $3.5/kg on four HSN codes covering synthetic knitted fabrics, effective until March 31, 2026.
The move follows a 22-day gap in April that likely led to a surge in imports.
While nine other codes are now subject to a fixed ₹115/kg basic duty, over three dozen codes remain unrestricted, prompting concerns of diversion to avoid MIP and customs duties.Read More