Among the many pre-budget proposals put forth by the textile industry is to rationalise the duty structure of different products in the textile value chain, which has an output of over US $50 billion.
The Confederation of Indian Industry (CII) has demanded a reduction in excise and customs duties on man-made fibre and elimination of duties in many of the other products across the whole value chain.
Industry experts feel that there output of goods in the man-made fibre sector is the lowest in India and when matched with cotton there is a gross mismatch. Elimination of reduction of duties could reduce the mismatch.
Even the textile ministry has forwarded a proposal in this regard to the finance ministry. So there is a big likelihood that levies and duties on man-made fibres could be in for a tinkering.
Fibre2fashion News Desk - India
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