Home / Knowledge / News / Textiles / States urge Centre to hike import duty on raw silk
States urge Centre to hike import duty on raw silk
03
Aug '15
The state governments of Karnataka and Andhra Pradesh have requested the Central Ministry of Finance to increase import duty on raw silk from the current 10 per cent to 30 per cent or at least to 15 per cent.
 
In a written reply to Lok Sabha, commerce and industry minister Nirmala Sitharaman said her ministry has received representations from Karnataka and Andhra Pradesh state governments to hike import duty on raw silk, according to an official statement.
 
In her reply, the minister said that the proposal for reduction in basic customs duty on raw silk from 15 per cent to 10 per cent was received in Ministry of Finance from Ministry of Textiles. The same was examined and duty on raw silk (not thrown) was reduced from 15 per cent to 10 per cent, vide Notification No. 28/2015-Customs, dated 30th April, 2015.
 
Ministry of Textiles is the nodal Ministry for matters relating to silk and the Central Silk Board monitors price of cocoon and yarn, arrival of cocoon and silk yarn in important markets, quantity of yarn/ raw silk being imported and change in price/ quantity, etc. 
 
Besides, the sericulturists are assisted under the ongoing schemes of the Central and state governments as per field requirements. The prices of silk are dependent on various factors such demand and supply and other market conditions, the statement said. (RKS)
 

Fibre2Fashion News Desk – India

Must ReadView All

Courtesy: India ITME

Textiles | On 8th Dec 2016

Industry needs to create 1cr jobs in 3yrs: Kavita Gupta

Sharing several initiatives laid out by the government in R&D,...

Textiles | On 8th Dec 2016

Package will boost made-ups sector: SIMA

The reforms package approved by the Union Cabinet to boost employment ...

Textiles | On 8th Dec 2016

Cabinet okays reforms to boost jobs in made-ups sector

The Union Cabinet chaired by prime minister Narendra Modi has given...

Interviews View All

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search