raj_kalyan just now
The key implication, based on preliminary research is as follows –
The Yarn Forward Rule
This stipulates that in order to escape duty in the U.S exporters must use yarn or fabric manufactured in member countries. Currently India exports yarn an fabric to those countries who then export textiles. Member countries will push to create local yarn and fabric production with clear implications for Indian exports of yarn and fabric.
If Kitex uses Indian yarn and fabric then it ends up paying anywhere between 18 to 34 percent duty on its finished products exported to U.S, while a Vietnam for example pays zero duty.
Request people with detailed insight on Kitex yarn sourcing to evaluate this.
Solicit a view from Kitex watchers and stakeholdets
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