India to slash duties on Bangladeshi textiles: report

The Indian government is planning to slash duties on a wide range of Bangladeshi textile imports, local media reported Sunday.

A proposal to scrap specific duties through introducing a simple duty structure for about 60-70 percent of 271 different textile types was likely to be put forward to the trade and economic relations committee next week, The New Age said.

If the proposal is approved, it will allow Bangladesh more market access to India, as import duties on the selected items would be lower under a simple duty structure. Currently, the import duty on textile products in India is 32 percent.

Garment is the largest export earner for Bangladesh with 68 percent of the total export earnings coming from the sector. It also employs 2.1 million workers, 90 percent of whom women.

Source: Xinhua