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Import Duty on 300 Textile Items Could be Hiked in Interest of Domestic Manufacturing
August 09, 2018
In a bid to boost domestic manufacturing in the textile industry that may push job creation, the government is mulling over hiking the import duty on as many as 300 textile products.
Sources say that the rate can be increased from the current 5%-10% to as much as 20%. Possible products that may get affected include man-made fibers, garments, and select fabrics.
This isn’t the first time the government is considering hiking the import duty. In the previous month itself, the government increased the import duty on more than 50 textile products twofold.
