NEW DELHI: India needs to reduce import tariffs on synthetic fabric if it wants to double apparel exports from the current USD 15 billion to USD 30 billion, according to Praveen Chakravarty, Chairman of the Professional Congress, in a letter sent to Finance Minister Nirmala Sitharaman.
In the letter, titled “Proposals to Boost Garment Exports and Create One Crore New Jobs”, Chakravarty argues that the current skewed import tariff structure on synthetic fabrics of 20 per cent is hurting India’s apparel exports tremendously.
“The top five apparel importing countries America, Germany, Japan, France and Britain buy 70 per cent synthetic garments and 30 per cent natural fabric apparel. But India exports more natural fabrics and less synthetic garments,” the letter states.