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September 2018
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Hasan, Asghar, Rashid fined 15 per cent of their match fees        Ready to be sacked if ATK do not fare well: Coppell        Sensex ends in red after 1,000-pt flash crash        OYO to hire over 2,000 tech experts, engineers by 2020        Thousands rally across Russia against raising pension age        Pak PM Imran hits out at India, calls its response "arrogant" for cancelling talks        Sisodia, AAP MLAs discharged in case related to 2014 protest        We have no role in selection of Reliance Defence for Rafale deal: Govt        Modi, Ambani carried out Rs 1.3 lakh cr 'surgical strike' on defence forces: Rahul on Rafale issue        Chekka Chivantha Vaanam: Second trailer released        Golden Globe Race: Indian Navy Officer Abhilash Tomy injured; INS Satpura dispatched for rescue        India Calls Off Talks With Pak, Says "Imran Khan's True Face Exposed"        Indian govt wanted Reliance for Rafale, we didn't have a choice: Ex-French prez Hollande        Wreckage of Captain Cook’s ship found off US coast        Death toll reaches 136 in Tanzania ferry disaster with scores missing        Ravindra Jadeja, Rohit Sharma take India to comprehensive 7-wicket win        Naomi Osaka Eases into WTA Tokyo Event Semi-final        Let the boundaries go away: Pakistani youth sings Jana Gana Mana with full respect        Three kidnapped cops killed by terrorists in Jammu and Kashmir        Freak penne trending with dislikes and trolls        
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Business News
Govt doubles import duty on over 50 textile products
 
New Delhi, Jul 17 (PTI) The government has doubled import duty on over 50 textile products -- like jackets, suits and carpets -- to 20 per cent, a move that is aimed at promoting domestic manufacturing.

The Central Board of indirect Taxes and Custom (CBIC) late last night notified list of textile products on which duties have been hiked to 20 per cent. It has also raised the ad-valorem rate of duty for certain items.

The imported products which have become expensive include woven fabrics, dresses, trousers, suits and baby garments.

"The duties have been doubled on most of the textile products. It will help boost domestic manufacturing but least developed countries including Bangladesh would continue to enjoy duty free access to Indian markets," FIEO DG Ajay Sahai said.

Experts said as per WTO norms, India will not be able to give any further incentive to the textile sector and the government has increased the import duties with a view to encourage domestic manufacturing.

EY Partner Abhishek Jain said: "Aligned to the 'Make in India' initiative, the increased customs duty on import of a range of textile products should entail the domestic manufacturing of these products witnessing a growth".

The customs duty increases on certain finished textile products would lead to a cost advantage for Indian textile manufacturing and advance the 'make in India' philosophy, said M S Mani, Partner, Deloitte India.

"Many foreign companies may now consider manufacturing in India to cater to the domestic demand as well," he added.

Imports of textile yarn, fabric, made-up articles grew by 8.58 per cent to USD 168.64 million in June.

However, exports of Cotton Yarn/Fabrics/made-ups, Handloom Products etc. grew by 24 per cent to USD 986.2 million. Man-made Yarn/Fabrics/made-ups exports grew 8.45 pc to USD 403.4 million. Exports of all textile ready made garments dipped by 12.3 per cent to USD 13.5 billion.


Sensex ends in red after 1,000-pt flash crash
OYO to hire over 2,000 tech experts, engineers by 2020
Sensex recovers over 100 points on value-buying, global cues
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Petrol, diesel rates scale new highs
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IBA elects PNB's Sunil Mehta as chairman
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DeMo led to more tax collection, higher growth: Jaitley
KERALA NEWS
Kannur International Airport: Kerala to be the first state with four international airports
 Malappuram: With Kannur International Airport becoming operational, Kerala will be the first state i  
Bar bribery case: Court dismisses the vigilance report
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INTERNATIONAL NEWS
Thousands rally across Russia against raising pension age
 Moscow, Sep 22 (AP) Thousands rallied across Russia on Saturday to protest the government's plan to
Pak PM Imran hits out at India, calls its response "arrogant" for cancelling talks
Wreckage of Captain Cook’s ship found off US coast
Death toll reaches 136 in Tanzania ferry disaster with scores missing
NATIONAL NEWS
Sisodia, AAP MLAs discharged in case related to 2014 protest
 New Delhi Sep 22 (PTI) A Delhi court on Saturday discharged Deputy Chief Minister Manish Sisodia, AA
We have no role in selection of Reliance Defence for Rafale deal: Govt
India Calls Off Talks With Pak, Says "Imran Khan's True Face Exposed"
Indian govt wanted Reliance for Rafale, we didn't have a choice: Ex-French prez Hollande
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