Home / Knowledge / News / Textiles / MinTex to extend 15% regulatory duty till September
MinTex to extend 15% regulatory duty till September
06
Jul '10
Ministry of Textile (MinTex) is probably going to give an extension to the 15 percent Regulatory Duty (RD) imposed on yarn exports, till an additional two months, as against their earlier announced date of July 26, 2010.

MinTex intends to extend the date of September 27, 2010 and for this subject, the due paperwork is in process in the ministry.

Earlier, the 15 percent regulatory duty was to be lifted by July 12, 2010; however, it was then extended to July 26, 2010. the ban was imposed on yarn exports to help the value-added textile segment during an ongoing rise in prices of cotton and yarn, internationally.

But the new decision has not gone down too well with the spinning industry owners, as for them any new extension of the RD would mean nailing them down permanently.

According to them, such fake interference by MinTex, followed by the President's and the Prime Minister's bias nature towards them, who are avoiding the key issue, owing to political factors, could possibly deteriorate the future of the exportable yarn surplus in the nation.

More over, the current unrest within the textile industry, is spoiling the nation's image as a trustworthy textile products suppliers on one hand, while disappointing fresh investment in the textile sector on the other hand.

Fibre2Fashion News Desk - India


Must ReadView All

RIL petrochemicals’ revenue grows 47.6% in Q3 FY18

Textiles | On 20th Jan 2018

RIL petrochemicals’ revenue grows 47.6% in Q3 FY18

The revenue from the petrochemicals segment at Reliance Industries...

Courtesy: Cotton USA

Textiles | On 20th Jan 2018

US cotton bodies pledge to support CCI activities

Ten US cotton organisations have pledged industry contributions in...

Surat traders want extension of deadline for e-way bills

Textiles | On 20th Jan 2018

Surat traders want extension of deadline for e-way bills

Textile traders in Surat have sought extension of the online e-way...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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

January 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search