Hike in Cus­toms Duty on Tex­tile Prod­ucts Brings Re­lief

FICCI Business Digest - - Upfront -

8 Au­gust 2018

FICCI wel­comes the in­crease in ba­sic cus­toms duty on over 300 tex­tile items. The move en­cour­ages do­mes­tic man­u­fac­tur­ing. The in­crease in im­port duty on the tex­tile items to 20 per cent will give a fur­ther re­lief to do­mes­tic tex­tile and car­pet man­u­fac­tur­ers. The mea­sures taken by the gov­ern­ment in last few months for the tex­tiles sec­tor have been very en­cour­ag­ing and bol­ster the con­fi­dence of the do­mes­tic tex­tile in­dus­try that has been reel­ing un­der the pres­sure of grow­ing com­pe­ti­tion and ris­ing costs.

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