Low import duty hits Himachal silk growers
Islamabad - Arabstoday
Reduction in import duty on raw silk has severely hit the domestic industry, impacting the livelihood of over 9,000 farmers engaged in sericulture in Himachal Pradesh, a government official said on Tuesday.The silk prices have not fallen due to fluctuations in the international market. However, in the central government 2011-12 budget, the import duty on raw silk was reduced to 5.15 per cent from 30 per cent, thereby adversely impacting the prices of silk cocoons during the autumn crop this year, an industries department spokesperson said.
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