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.