To curb textile imports, the government raised the basic customs duty (BCD) from 10 per cent to 20 per cent on: 298 man-made fabric (MMF) fabric lines w.e.f. October 27, 2017; 5 Silk fabric lines w.e.f. February 2, 2018; and 504 lines w.e.f. July 16, 2018, comprising 22 fabric lines, 383 apparel lines, 75 carpet lines, 9 made-ups and 15 other lines.

Further, the government has imposed anti-dumping duty on import of linen yarn from China and nylon filament yarn from Vietnam and EU w.e.f. October 19, 2018 and October 6, 2018 respectively.

During April-October 2018, rupee has depreciated by 6.7 per cent to Rs68.8/$ (average) as compared to Rs64.5/$ (average) during April-October 2017. During April-October 2018, India’s textile and apparel exports stood at $22.9 billion as compared to $22.3 billion during same period last year.

In 2017-18, India’s textile and apparel imports stood at $7.339 billion, compared to $6.293 billion in 2016-17. (RKS)

Fibre2Fashion News Desk – India