Tirupur Exporters Association (TEA) today hailed the increase in the Basic Customs Duty from 10 to 20 per cent for import of 23 knitted garment items and one knitted fabric item by the Centre.
The imports of textile products from countries like China, Bangladesh, Vietnam, Cambodia and Sri Lanka have been significantly increased with Compounded Annual Growth Rate of 17 per cent in five years.
Besides, imports of ready made garments increased from Rs 3,994 crore in 2016-17 to Rs 4,983 crore in 2017-18, TEA president, Raja M Shanmugham said in a statement.
Leading retail stores in India also started importing garments from Bangladesh and other countries, as it was cheaper compared to those produced in our country, he claimed.
Considering the vulnerability of Indian Textile industry and a serious threat to employment, TEA has been continuously making representations to the centre and emphasising the threat during meetings with the ministers and officials and appealing to restrict the textile products imports, he said.
Shanmugham thanked Union Minister, Smriti Irani for considering their request and taking swift action by increasing the Basic Customs Duty from 10 to 20 per cent to protect our textile industry and employment.
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