Home / Knowledge / News / Textiles / 'Increased import duties on textiles may not be enough'
'Increased import duties on textiles may not be enough'
25
Jul '18
The recent hike in import duties on 50 textile items may not be enough to give the desired boost to the Indian textile and apparel sector. There must also be efforts made to strengthen the infrastructure, and technical knowledge must be more readily available to youngsters for pursuing a career in textiles, according to Gagan Singla, CMO of AngelBroking.
 
This time the focus is only on 50 items where the import duties have been doubled to 20 per cent. As a result of this increase, high-end brands like Chanel, Gucci, Burberry, and Fendi and other companies which sell their attires in India made at different manufacturing hubs will feel the impact, writes Singla in an article for Fibre2Fashion.
 
“Another issue which could need attention is that under such circumstances, where Indian products will cost more owing to increased cost of imported raw materials from abroad, the cost of goods produced in Bangladesh remains unchanged. This is because countries like Bangladesh enjoy free market access in India. Hence, indirectly, they could end up being the biggest beneficiaries of this policy,” feels Singla.
 
However, many also believe that keeping the big picture in mind, the step makes sense. If such a move pays off, then one can expect significant improvement in the apparel segment among Indian brands. Apart from protecting the textiles industry, it could also prove to be a useful tool in providing more employment opportunities.
 
Click here to read the complete article
 

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 14th Jun 2021

Sri Lanka's EDB concerned over EU resolution to withdraw GSP+

Sri Lanka's Export Development Board is concerned over the resolution ...

Pic: Shutterstock

Textiles | On 14th Jun 2021

Pakistan govt proposes tax relief in budget to boost industrial growth

Pakistan's latest budget aims to reduce the input cost of many...

Pic: Shutterstock

Apparel/Garments | On 14th Jun 2021

Prime Content| Vietnam’s apparel exports expected to rise in 2021: TexPro

Apparel exports of Vietnam are expected to increase from $14.96...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry with brand ethos

Textile Industry, Head honchos

Textile Industry
Head honchos

Uniform designing is a numbers game

Textile Industry, Head honchos

Textile Industry
Head honchos

Next level is to inject new features:

Chendhuran Sundar,

Chendhuran Sundar

Headquartered at Singapore, Crocodile is a global fashion and lifestyle...

C Maennich,

C Maennich

Trützschler, one of the world's leading textile machinery manufacturers,...

Sandra Sequeira,

Sandra Sequeira

The JD Institute of Fashion Technology is the educational division of JD...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Andreas Lukas, Andritz Nonwoven

Andreas Lukas
Andritz Nonwoven

With forces in engineering and process development, Andritz Nonwoven...

Tiasha Renganathan, Twinery Innovations by MAS

Tiasha Renganathan
Twinery Innovations by MAS

Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

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

Leave your Comments


June 2021

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


Advanced Search