New Delhi, Aug 08: Federation of Indian Chambers of Commerce and Industry (FICCI) on Wednesday welcomed the increase in basic custom duty on several textile items.
The move is very much in the direction to encourage domestic manufacturing. Increase in import duty on over 300 textile items to 20 per cent will give a further relief to domestic textile and carpet manufacturers, said FICCI Textile Committee Chairman Shishir Jaipuria.
He said the measures taken by the Government in last few months for the textiles sector have been very encouraging and given confidence to the domestic textile industry that has been reeling under the pressure of growing competition and rising cost. (UNI)