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India seeks to protect domestic textile industry

16/08/2018
The Indian government has put in place a policy which doubles the import tax on more than 300 textile products, a step designed to protect its textile industry from rising imports from countries like China.

The new 20% tariff applies to a total of 328 products, although the government did not disclose further details. 

This move follows a similar tax hike in July, which applied to products including fibres and apparel. 

For the fiscal year to March 2018, India’s textile imports totalled $7 billion, 16% higher than in the previous year. Of this, about $3 billion were from China. The country also imports textiles from Bangladesh, Vietnam and Cambodia, but these countries are not subject to any duty due to existing free trade agreements.

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