Related Keywords: dwindling cotton yarn exports, export benefits, extension of interest subvention, import of man made fiber, measures to salvage textile value chains, reduction in excise duty, removal of import duty, representations by textile industry, Southern India Mills Association, special additional dutry levied, Textile Ministry, under MEIS and IES
In representations by industry bodies led by the Southern India Mills Association, the government has been asked to announce measures to salvage the textile value chains and dwindling cotton yarn exports.
The textile industry has sought a reduction in central excise duty from 12.5 to 6 percent and removal of the 5 percent import duty and 4 percent special additional duty levied on the import of man-made fibre. Currently, Indian man-made fibre are 23 percent more expensive globally.
