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Import Duty on 50+ Textile Products Doubled
July 25, 2018
To promote domestic manufacturing of textiles, the government has hiked the import duty on more than 50 products including carpets, baby garments, trousers, suits, jackets, etc. to 20% from the current 10%.
A list of the impacted products has been released by the Central Board of Indirect Taxes and Custom (CBIC).
Director General of Federation of Indian Export Organizations(FIEO) Ajay Sahai said that the doubled duty will give a boost to domestic manufacturing although less developed countries like Bangladesh will continue to enjoy duty-free access to the markets in India.
Photo credit: rverc on Visualhunt / CC BY
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