India Raises The Consumption Tax On Brand Clothing

India has raised the consumption tax on brand clothing from 10% to 12%.

However, the increase in deductible prices from 55% to 70%, the financial aid Mukherjee said in March 16th.

As a result, the percentage of the consumption tax to the fractional selling price will drop from 4.5% to 3.6%.

In a number of budget statements made by the textile department, finance minister Mu Keji will automatically shuttleless looms.

Mu Keji also said that allowing foreign direct investment to have a 51% share in multi brand trade is now undecided.

Consultations with the state governments are being conducted on the decision.

Mu Keji also waived the consumption tax on imported polyaramid lines and fabrics, which were used to make bulletproof helmets.

5% basic tariff is charged for new automatic reeling machines and other special specifications of textile machinery.

7.5% of the basic tariffs on second-hand machinery requisition.

In the Maharashtra state of Ike, the 700 million large rupee cluster of dynamic weaving has been invested.

In addition, the weaver service centre will be established in the state of the United States, the state of naglanbang and the state of Canada, providing technical support to the poor handloom looms.

Mu Keji also announced the establishment of a hand-held textile cluster in Ande Laban and Canada. In addition, four hand spinning clusters have been operated.

Mu Keji also proposed in five hand spinning, dynamic weaving and

Mu Keji also allocated 500 million rupees of funds, in 12th Five-Year plan, in the northeast region began the promotion and application of ecological textiles pilot program.

Mu Keji also cut waste.

Mu Keji also revealed that the government recently provided 38 billion 840 million rupees of money for handwoven textile weaves and their co-operatives to exempt their loans.

In order to promote the growth of small and medium-sized enterprises, Mu Keji proposed to establish a 50 billion rupee India opportunity risk risk fund with the India small industrial development bank, in order to improve the feasibility of funds for small and medium-sized enterprises.

Mu Keji said recently two small and medium enterprises exchanges have been launched in Mumbai to ensure that SMEs can obtain large capital.

According to the goal of promoting market access for small and medium-sized enterprises, the government of India approved a policy requiring departments to purchase 20% of their purchases annually from small and medium-sized enterprises.