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PTA industry urges single GST for the textile sector

Dec 30, 2020
PTA industry urges single GST for the textile sector

The Polyester, Textile and Apparel (PTA) users industry wished the government to consider single GST for the complete textile industry. According to PTA users industry, single GST rate will do away with the inverted duty structure and help the Indian textile industry grow faster to achieve PM Modi’s target to achieve $24o billion by 2025.

The PTA users industry also urged the government to announce the New Textile Policy to give higher incentives for exports inclusive of yarns and fibres to create a level playing field for domestic manufacturers in the global market.

The industry further urged the government to reduce import duties on raw materials, to provide a Production Link Incentive (PLI) scheme for fibres and yarns, and negotiate trade agreements with America and the European Union to cut down on high duty currently being paid by Indian textile manufactures, as mentioned in a leading news report.

The PTA users industry congratulated the government for favourable policy announcements to boost the Indian textile industry and emphasised on the removal of anti-dumping duty on PTA in the upcoming budget 2020-21.