Textile secretary hints at removal of excise duty

摘要

The indian garment industry is fighting with many continuous road-blocks at the moment. And first to hit the industry hard was the implementation of 10 per cent excise duty on branded apparels, followed by signs of another economic slowdown affecting export orders, low consumer buying and increase in raw material prices proved to be the final blow. Therefore, many textile companies are in talks with banks for restructuring their loans and hoping to get some relief from the government.