Khadi gets separate HS code

News:The Ministry of Commerce and Industry has allocated separate HS code for Khadi to boost exports of this signature fabric of India.

Facts:

About HS Code:

• HS stands for Harmonized System and was developed by the World Customs Organization (WCO). 
• The code is used by customs officers to clear commodities entering or crossing international borders.
• The code aids countries in the collection of international trade statistics and forms a basis for customs tariffs.This helps in better reach of the product and increases its global popularity.

Additional information:

About WCO:

• The WCO is an inter governmental organization headquartered in Brussels,Belgium.It was founded in 1952. 
• It administers the technical aspects of WTO, agreements on customs valuation and rules of origin
• WCO represents 182 Customs administrations across the globe that collectively process approximately 98% of world trade.

About Khadi:

• Khadi refers to hand-spun and hand-woven cloth.The raw materials may be cotton, silk, or wool, which are spun into threads on a charkha.
• Khadi was launched in 1920 as a political weapon in the Swadeshi movement of Mahatma Gandhi.