Indian Garment Export Promotion Council asks the government to cut consumption tax on man-made fiber
The Indian Apparel Export Promotion Council asked the government to cut the consumption tax on man-made fibers and cotton and promote the country’s garment exports.
Saxville, president of the Indian Apparel Export Promotion Association (AEPC), said the move would help the country's exports double in the next three years, reaching $30 billion.
Saxville said in a statement: "In this regard, we have submitted a proposal to reduce the tariffs on selected special rayon and cotton, unified to %."
These special fabrics are not everywhere in India, so the government is required to cut tariffs on these products.
Saxville also said that the early implementation of the India-EU Free Trade Agreement will help promote exports from the apparel sector.
Since 2007, India has started negotiations on free trade agreements with the EU-27.
Saxville also requires adequate funding at affordable rates.
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