India Decides To Export Tax Refund For Textiles And Garments.

At the beginning of.3, the cabinet of India decided to implement local and central tax rebate plans for garments and finished products (such as towels, sheets, blankets and curtains).

India textile industry expects that the government will extend the export tax rebate for clothing and cosmetic products by -1.html.

The textile industry will increase exports.

KV Srinivasan, chairman of the India Cotton Textile Export Promotion Committee, said that the tax rebate would enhance the competitiveness of the export market for manufactured goods.

Compared with competitive countries, the export of manufactured goods from India, especially domestic textiles, is facing enormous challenges due to high import tariffs.

He added that the plan would greatly help exporters overcome this disadvantage and increase exports.

He urged the government to also include yarn and fabrics under the rebate scheme, because these value-added products are also faced with heavy tax burden.

BK Goenka, President of the Wells Kim group and President of askam, said the tax rebate would bring textile exports to a similar level to other countries.

He said that the decision to raise tax rebates for clothing and cosmetics will stimulate these industries, and India's total textile exports account for 55% of India's total exports.