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Interim budget 2024: textile industry expresses disappointment

Bangladesh looks to scale up position as high-value RMG exporter in the world

DHAKA, June 22, 2023 (BSS) - Bangladesh is pursuing a vision of elevating its  position as a high value garment exporter

Textile sector hails continuation of taxes, levies rebate scheme

Extension of rebate to boost exports: Texprocil - The Hindu BusinessLine

Budget 2021: Textile industry welcomes setting up 7 mega textiles park

The textile industry welcomed the setting up of 7 mega textiles parks proposed in the Union Budget 2021-22, saying this will make the industry globally competitive, but the imposition of a 10 per cent basic customs duty (BCD) on raw cotton will increase the domestic prices. The Mega Investment Textiles Parks (MITRA), under which seven textile parks will be established over a period of three years, is a positive step that will enable the industry to become globally competitive, attract large investments and boost employment generation, Cotton Textiles Export Promotion Council (TEXPROCIL) Chairman Manoj Patodia said. He stated that the Budget has proposed to reduce the basic customs duty on caprolactam, nylon chips and nylon fiber and yarn to 5 per cent, which will encourage the growth of the Man Made Fibre (MMF) sector especially the MSMEs.