India doubles import tax on some textile products to 20 percent

Tue Aug 07 2018
Rajesh Sharma (2068 articles)
India doubles import tax on some textile products to 20 percent

NEW DELHI (Reuters) – India doubled the import tax on some textile products to 20 percent, the government said in a statement on Tuesday, increasing duty on fabric-related commodities for the second time in a month.

The move is expected to provide relief to the domestic textile industry, which has been hit by a rise in imports of certain products.

India last month also raised import duty on some textile products such as fibre and apparels.

Rajesh Sharma

Rajesh Sharma

Rajesh Sharma is Correspondent for Stock Market of South East Asia based in Mumbai. He has been covering Asian markets for more than 5 years.