India comprehensively raises import tariffs on textiles and clothing
Recently, the Central Board of Excise and Customs (CBEC) of India issued a notice on its official website, deciding to comprehensively increase import tariffs on textiles and clothing involving customs tariff numbers 50 to 63. On the basis of the current 10-15%, it will be raised to 20-25 %, while textile and apparel products with previous tax rates higher than 25% (mainly textile raw materials, 30% import tax rate) remain unchanged.
China and India have close textile and apparel trade, and China is India’s number one source of imported textiles and apparel. Statistics show that in 2016, China’s textile and apparel exports to India totaled US$4.09 billion, accounting for approximately 67.3% of India’s total textile and apparel imports. This time, India’s comprehensive and substantial increase in import tariffs will have an impact on my country’s textile and apparel export companies. India comprehensively raises import tariffs on textiles and clothing
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