The DGFT vide Notification No. 49/2024-25 dated January 04, 2025, amended the import policy for 13 ITC(HS) codes under Chapter 60 of ITC(HS), 2022. Imports of specified synthetic knitted fabrics are “Restricted” unless the CIF value is at least $3.5/kg, making them “Free.” MIP conditions do not apply to imports by Advance Authorisation holders, EOUs, or SEZ units, provided inputs aren’t sold domestically. The MIP condition is extended from 01.01.2025 to 31.03.2025.
In exercise of powers conferred by Section 3 and Section 5 of FT (D&R) Act, 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy, 2023, as amended from time to time, and in partial modification to Notification No. 77/2023 dated 16.03.2024 and Notification No. 33/2024-25 dated 01.10.2024 the Central Government hereby extends the condition of Minimum Import Price (MIP) on the following 13 ITC (HS) codes of Synthetic Knitted Fabrics from 01.01.2025 to 31.03.2025 as under:
| ITC(HS) Code | Item Description | Revised Import Policy | Revised 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 man-made 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 items shall not be applicable for imports by Advance Authorisation 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).
Effect of the Notification:
Import of Synthetic Knitted Fabrics under ITC(HS) 60063100, 60063200, 60063300, 60063400, 60069000, 60019200, 60041000, 60049000, 60053600, 60053790, 60062200 and 60064200 is “Restricted”. However, import is ‘Free’ if GIF value is 3.5 US Dollar and above per Kilogram. Further, inputs imported by Advance Authorisation holders, EOUs and SEZ shall be exempted from MIP condition.
The Notification can be accessed at: https://a2ztaxcorp.net/wp-content/uploads/2025/01/Noti-49-dated-04.01.2025-Synthetic-Eng.pdf
