Textile sector has insisted that the government should cutback on excise duty on synthetic fibre and also import duty on the wool waste.
SP Oswal, Chairman, Vardhman Group, suggests that the excise duty on synthetic fibre, polyester and acrylic fibre should be reduced from 16 percent to 8 percent so as to make it equal to duties on synthetic yarn.
The industry also wants the import duty on wool waste to be cut down to 10 percent from 15 percent.
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