Nirmala Sitharaman Boosts Domestic Technical Textiles In Budget 2025-26
(MENAFN- KNN India)
New Delhi, Feb 1 (KNN) In her eighth consecutive budget presentation for the year 2025-26, Finance Minister Nirmala Sitharaman introduced significant measures aimed at boosting the domestic production of technical textiles.
This includes products like agro-textiles, medical textiles, and geo-textiles, which play a crucial role in various sectors, including agriculture, healthcare, and infrastructure.
To promote these sectors and ensure competitiveness in pricing, the Finance Minister proposed the inclusion of two additional types of shuttle-less looms in the list of fully exempted textile machinery.
This move is expected to facilitate the adoption of advanced machinery and improve production capabilities.
Furthermore, Sitharaman proposed a revision of the Basic Customs Duty (BCD) rate on knitted fabrics. The new rate would be applicable to nine tariff lines, shifting from a standard rate of“10 per cent or 20 per cent” to“20 per cent or Rs 115 per kg, whichever is higher”.
This change aims to align the tariff structure with the evolving needs of the textile industry, promoting self-reliance and growth within the sector.
These measures are expected to support India's growing technical textile industry, fostering innovation and increasing the global competitiveness of Indian products.
(KNN Bureau)
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