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Union Minister discusses to increase import duty on silk

YarnsandFibers News Bureau 2015-11-18 12:55:00 – Karnataka

In order to discuss the demand for increasing import duty on silk, Union Minister of State for Textiles Santosh Kumar Gangwar has invited Karnataka’s Sericulture Minister A. Manju and MP of Mysuru Pratap Simha to New Delhi for the same.

There was a need to discuss the matter with the concerned Ministries as import duty comes under the Union Ministry of Commerce, said Mr. Gangwar.

Mr. Gangwar had to discuss this matter because sericulture farmers in Karnataka faced difficulties after a reduction in import duty on silk.

The import duty on raw silk, which used to be around 30 per cent a few years ago, was brought down from 15 per cent to 10 per cent in the last Union Budget.

This decrease brought down the price of Chinese silk, which in turn led to a decline in price of cocoons reared in Karnataka.

Currently, India produces 29,000 tonnes of silk per annum and thus needs to import raw silk and silk fabric to the tune of 6,000 to 7,000 tonnes mainly from China to meet the growing demand.

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