Don’t miss the latest developments in business and finance.

India doubles import tax on some textile products to 20 percent

Image
Reuters NEW DELHI
Last Updated : Aug 07 2018 | 2:45 PM IST

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.

(Reporting by Sudarshan Varadhan; Editing by Sanjeev Miglani)

Also Read

First Published: Aug 07 2018 | 2:37 PM IST

Next Story