India’s textile sector, hit by steep US tariffs that threaten its global competitiveness, is urging tax relief at home.
The Northern India Textile Mills Association (NITMA) has called on the GST Council to introduce a uniform 5% GST rate across the man-made fibre (MMF) value chain, specifically on Polyester Staple Fibre (PSF) and Polyester Spun Yarn (PSY).
The industry argues that rationalising domestic taxes will help sustain the sector, which employs over 45 million people, largely in rural areas and among women. Textiles account for nearly half of India’s exports to the US, with apparel—both knitted and woven—making up about one-third of that share.
News Courtesy : Textile Today.