NEW DELHI — In a fillip to India’s fashion industry, the government has set a zero excise duty on exports of cotton, spun yarn and apparel. The move went into effect March 1.
Industry analysts said the decision could mean the price of ready-made garments could come down by as much as 7 to 8 percent, benefitting manufacturers, retailers and customers. The announcement was made as a part of the Union Budget for 2013-14 by finance minister P. Chidambaram, with other incentives to keep the textile industry growing.
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