Short answers, pulled from the story.
The Calico Acts of 1700 and 1721 were laws passed by Parliament to block the importation and sale of cotton cloth. The first act blocked imports while the second stricter addition prohibited the use and wear of all printed, painted, stained or dyed Callicoes in apparel and household stuff after the twenty fifth Day of December one thousand seven hundred and two.
The English East India Company introduced Britain to cheap calico and chintz cloth after the restoration of the monarchy in the 1660s. This trade eventually overtook the EIC's spice trade by value in the late 17th century as the company expanded its factories in Asia to produce and import cloth in bulk.
Parliament passed a stricter addition known as the Calico Act in 1721 because they were dissatisfied with the outcome of the first act. They sought to prohibit the sale of most cottons imported and domestic excepting only thread Fustian and raw cotton to protect domestic woollen and linen textile producers from competition.
By the beginning of the 1770s seven thousand bales of cotton were imported annually through new channels established by mechanised production. The exemption of raw cotton from the initial prohibition initially saw 2,000 bales of raw cotton imported annually which became the basis for a new indigenous industry.
The acts were repealed in 1774 triggering a wave of investment in mill based cotton spinning and production. This repeal doubled the demand for raw cotton within a couple of years and doubled it again every decade till the 1840s while New factories began to rival the established Indian dominance in global markets.