March 25, Mr. Singh, It seems that you have finally decided to start your business with enthusiasm. I am very happy for that.
Aug 8, The tariff hike on 32 product categories comes after recent increases across several sectors, from mobile phone to TV sets and toys.
A few weeks ago, the government had increased import duty on some textiles goods as it wanted to encourage local manufacturing by making imports more expensive. Textiles is seen to be a labour-intensive sector and local production is expected to create jobs, apart from boosting demand for raw material such as cottona politically sensitive commodity.
The export needs to be compensated for tariff hike through corresponding increase in duty drawback rates.
While the move will impact imports from most countries, including China, TurkeyVietnam and Sri LankaBangladesh may be able to enjoy lower duty due to its least developed country status.
In case of Sri Lanka, some of the concessions under a trade agreement with India may help lower the impact of higher tariffs. Foreign players were critical of the move even though some of them produce a majority of their products in India.
The CEO of a European luxury brand said there were segments such as some jackets where the demand was lower and the company wanted to protect its intellectual property and had to import goods into the countries.
With global brands now looking at India as a growth market, this move is being seen as something that will push up prices and reduce consumption.
Another industry player said even a small price hike will have an impact.Nov 14, · Cotton and Wool Yearbook Tables, an annual data product that contains U.S.
cotton and wool production, supply, use, trade, and price statistics. The tables also include domestic and world price series and indexes; State cotton acreage, yield, and production data; and conversions of U.S. textile imports and exports.
Jun 05, · This video is unavailable. Watch Queue Queue. India Sourcing and Production Team Manager - Fibre and Yarn.
in this one year was as an Expatiate where my core responsibility was to manage open costing of yarn and confirm business plan through negotiation of yarn prices (India and china). I actively contributed towards the development of recycled cotton and polyester yarn in china. India Business News: The government on Tuesday raised import duty on several textile products, including garments, scarves and carpets, as part of its plan to protect dome.
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