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Customs duty on fabric imports hiked

Customs duty on imports of synthetic woven fabrics of various qualities, other woven fabrics, synthetic filament fabrics, artificial filament fabrics and artificial woven fabrics has been increased from the existing ten per cent to 25 per cent.

Customs duty on imports of synthetic texturized yarn, artificial texturized yarn, synthetic yarn, PSF, VSF and artificial yarn has been increased from the existing ten per cent to 20 per cent. Similarly customs duty on imports of comber waste has been hiked from the existing 15 per cent to 25 per cent whereas that of cotton fiber has been revised to 25 per cent from the existing ten per cent.

It is still to be seen what impact the latest duty revision will have on the ailing textile industry as the finance ministry while increasing the import duties on fabrics has also increased the import duties on yarn. The industry however, is upbeat and hopes the revision will be a breather in the present scenario.

It is expected that the hike in the import duty of synthetic and cotton fabrics will protect the interests of weavers and help domestic textile manufacturers. Textile manufacturers have demanded anti-dumping duties on imports of fabrics from countries like China, Malaysia, Indonesia and SAARC.

 
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