Indian textile industry organisation outlines details of relief package
18/03/2020
According to a statement released by CITI, the chairman, T. Rajkumar, described to Mr Modi how demand for the textile products and domestic sales have nearly stopped, and that sales of textile products to EU and the USA are to be increasingly affected.
Further, he pointed out, India’s government has directed the closure of all malls and retail outlets to slow the spread of the virus, resulting in substantial loss of sales of the domestic textiles and clothing.
The package includes items such as a moratorium for repayments to banks; exemptions for raw materials, dyes and chemicals, anti-dumping duty and basic customs duty; the inclusion of cotton yarn and fabrics under certain benefits, and more.
The chairman concluded by saying the relief package is urgently needed to support the textile and clothing industry, which employs more than 105 million people.
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