India decides on export tax rebates for textiles and clothing

Release time:

2019-03-22

At the beginning of March, the Indian cabinet decided to implement local and central tax rebate schemes for clothing and manufactured goods (such as towels, sheets, blankets and curtains). India's textile industry expects to increase exports as the government extends export tax rebates on clothing and costume goods.

KV Srinivasan, chairman of the Indian Cotton Textile Export Promotion Board, said the tax rebate would improve the competitiveness of the export market for manufactured goods. Exports of manufactured goods, especially home textiles, from India face significant challenges due to high import tariffs compared to competing countries. He added that the program will greatly help exporters overcome this disadvantage and increase exports. He urged the government to also include yarn and fabric under the rebate scheme, as these value-added products also face a heavy tax burden.

BK Goenka, chairman of the Welleskin Group and president of Asokam, said the rebate would bring textile exports to a grade comparable to that of other countries. He said the decision to raise tax rebates on clothing and cosmetics will stimulate these industries, and India's total textile exports account for 55% of India's total exports.

2019 China hemp textile industry association council held in Shanghai

Return to List

Trump launches trade war, US GDP loses $7.8 billion in 2018

More information