India Textile Industry Demands Lower Fiber Tax Burden

Recently, the South India Textile Mills Association ( SIMA The government has urged the government to develop a textile economic stimulus plan aimed at reducing Man-made fiber Tax burden to revitalize local textile enterprises.

India spinning industry Raw material input High cost, shortage of electricity, shortage of labor force, imbalance of government policies and rising interest rates are causing difficulties. In the past 5 months, the spinning industry has lost 150 billion rupees.

The newly elected president of SIMA called on the Prime Minister of India to intervene in the development of the textile industry stimulus plan to ensure that the textile technology renewal Fund (TUFS) invested about 200 million rupees to protect most workers' job opportunities. He also demanded that the national fiber policy be implemented as soon as possible. When it comes to artificial fibers, he asked for a 5% cancellation. Import duty And 4% of the special additional tax, the current 10% of the central tax to 4%, thereby improving the applicability of garments.