Related Keywords: forthcoming Union Budget, increase share in global textile trade, lowering of import duty on raw materials used in making finished products, Northern region based textile industry, rationalization of duty structure on man-made fibres, sectors competitiveness globally, sought enough provisioning, Technology Upgradation Fund
The Northern region based textile industry sought enough provisioning for technology upgradation fund, rationalization of duty structure on man-made fibres and lowering of import duty on raw materials used in making finished products in the forthcoming Union Budget.
At present, man-made fibres attract 12.5% excise duty. The industry pitched for rationalization of duty structure on man-made fibres to enhance the sector’s competitiveness globally and increase its share in the global textile trade.
