;
Home / Knowledge / News / Textiles / Indian govt doubles import duty on 328 textile items

Indian govt doubles import duty on 328 textile items

07
Aug '18
Courtesy: Kaboompics .com from Pexels
Courtesy: Kaboompics .com from Pexels
To provide a boost to manufacturing, the Government of India has doubled import duty on 328 textile products to 20 per cent from the earlier 10 per cent. This is in addition to the 50 textile products on which the government had doubled import duty last month. The increased duty is expected to give an edge to domestic manufacturers and create jobs.
 
A notification tabled by minister of state for finance Pon Radhakrishnan in the Lok Sabha said it seeks to “increase Customs duty on 328 tariff lines of textile products from the existing rate of 10 per cent to 20 per cent...under Section 159 of the Customs Act, 1962.”
 
The increase in import duty would result in increased production activity in the sector, which already employs about 10.5 crore people.
 
In June 2018, India’s textile yarn, fabric and madeups imports stood at $168.64 million, registering a growth of 8.58 per cent year-on-year.
 
On the other hand, exports of cotton yarn, fabric, madeups and handloom products increased by 24 per cent to $ 986.2 million. Man-made yarn, fabric and madeups exports grew 8.45 per cent to $403.4 million.
 
However, exports of readymade garments dropped 12.3 per cent to $13.5 billion. (RKS)
 

Fibre2Fashion News Desk – India


Must ReadView All

Government notifies 207 HSN Codes as technical textiles

Textiles | On 19th Jan 2019

Government notifies 207 HSN Codes as technical textiles

The government of India has notified 207 HSN Codes as technical...

Two US senators introduce Cambodian Trade Act of 2019 bill

Apparel/Garments | On 19th Jan 2019

Two US senators introduce Cambodian Trade Act of 2019 bill

Two US senators recently introduced the Cambodian Trade Act of 2019...

Rwanda to open silk factory in Kigali in Feb

Textiles | On 19th Jan 2019

Rwanda to open silk factory in Kigali in Feb

Rwanda will open a new silk factory in February at the Kigali Special ...

Interviews View All

Manfred Mentges, Sedo Treepoint GmbH

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Sanjay Yagnik, Maa Tex Speciality

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Asim Dalal, Indo Count Retail Ventures

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Cong Zheng,

Cong Zheng

The China Textile Machinery Association (CTMA) is a social-economic...

John Kelley,

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Sarah Perkins,

Sarah Perkins

Fairfax, Virginia-based Specialty Graphic Imaging Association (SGIA) is a...

Paige Mullis, Glen Raven Inc

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

Mr Ambrose Chan, DSG International (Thailand) PLC

Mr Ambrose Chan
DSG International (Thailand) PLC

Matthew Kolmes, Supreme Corporation

Matthew Kolmes
Supreme Corporation

Supreme Corporation manufactures innovative specialty yarns and safety...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

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

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

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


January 2019

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

news category


Related Categories:

Advanced Search