Govt doubles import duty on 328 textile items to 20 pc
The move is aimed at promoting domestic manufacturing of these products in the country as part of the Make in India initiative.
The government hiked basic customs duties on items such as carpets, woolen items and ski suits, dressing gowns, druggets, an ensemble of silk and artificial fiber, carpets, and other textile floorings, and shawls.
Earlier in the day, a notification to this effect was tabled by Minister of State for Finance Pon Radhakrishnan in the Lok Sabha.
Increase in manufacturing activity will help create jobs in the sector, which employs about 10.5 crore people.
The textiles industry stated that the move would help promote 'Make in India' as imports of these goods had surged drastically in the last one year especially post GST.
"The decision would help millions of people get employment in the manufacturing sector of the various segments of the entire value chain," CITI said in a statement.
According to trade experts, India would not be able to give any direct export incentive to the textile sector, so there is a need to support the segment to encourage domestic manufacturing.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)