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Govt doubles import duty on textile products- The New Indian Express

The imported products which have become expensive after the issuance of the list include woven fabrics, dresses, trousers, suits and baby garments. The same rate will be applicable on jute fabric, paper yarn, different varieties of carpets, laminated fibre and sheets made from fibre. On some items, the rate would be 20 per cent or Rs 38 a metre, whichever is higher.  The ad-valorem rate of duty for certain items has also been raised. However, there is no mention that these duties will be effective from which dates. According to sources in the Commerce Industry, the hike was intended at giving a boost to the domestic textile industry that is also a key employment generator. As per the WTO norm, the government will not be able to extend any further benefits to the textile sector. According to government data, imports of textile yarn, fabric and made-up articles grew by 8.58 per cent to $168.64 million in June. Export of all readymade garments dipped by 12.3 per cent to $13.5 billion. However, imports from less developed countries will remain duty-free.

For the original version including any supplementary images or video, visit http://www.newindianexpress.com/business/2018/jul/18/government-doubles-import-duty-on-textile-products-1844820.html

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