- Thursday, April 18, 2024
By: Radhakrishna N S
In an attempt to limit rising textile products from foreign countries, especially from China, India has doubled import tax to 20 per cent on more than 300 textile products on Tuesday (7). It was the second tax hike on textiles after an increase on other products including fibre and apparels last month. The move is likely to provide a relief to the domestic textile industry, which has been hit by cheaper imports severely. India’s total textile imports moved up by 16 per cent to $ 7 billion in the last financial year, out of which, $3 billion imports were from…
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