India asks Kenya to cut duties on textile imports
March 20th, 2012 - 9:24 pm ICT by IANSNew Delhi, March 20 (IANS) India Tuesday asked Kenya to reduce duties on imports of textiles, especially man-made fibres, from this country.
During a meeting with his Kenyan counterpart Chirauli Mwakwere here, Commerce and Industry Minister Anand Sharma said the high taxes imposed by Kenyan government hurt bilateral trade between the two countries.
Kenya imposes high import tariffs on imports of man-made fibre textile items from India.
On yarn and fabrics, it imposes import duties of up to 25 percent, while on man-made fibre textiles the duties go up to 50 percent. In addition to this, Kenya also imposes 16 percent Value Added Tax (VAT) on imports.
Sharma, who is also the minister for textiles, invited Kenyan entrepreneurs to invest in India’s textiles sector.
He pointed out that up to 100 percent foreign direct investment was allowed in the textiles sector through the automatic route.
During the meeting, Sharma asked for the greater cooperation among the trade bodies and business chambers of the two countries to facilitate growth in textile trade, an official statement released after the meeting said.
India’s textiles exports to Kenya rose to $100 million in 2010 against $77 million in the previous year.
- Technical textile industry deserves tax sops: FICCI - Dec 26, 2010
- India, Kenya to discuss bilateral trade and investment - Oct 12, 2010
- 'India can be world leader in handmade textiles' - Jan 05, 2012
- India-Kenya Joint Trade Committee meeting in Nairobi - Oct 12, 2010
- India to help Kenya revive its textile sector - Oct 14, 2010
- India to build stronger trade, economic ties with Brazil: Anand Sharma - Mar 08, 2011
- High tariffs will harm India-US business ties: US commerce secretary - Mar 26, 2012
- Gujarat textile honchos puts forward demands ahead of Budget - Feb 21, 2011
- $189 mn of China's imports MoUs between Indian and Chinese firms - Aug 27, 2012
- Gujarat to set up textile parks for cotton - Nov 20, 2010
- Rs.2,100 crore sanctioned for textiles parks - Oct 27, 2011
- India, Pakistan trade can reach $10 bn by 2015: CII - Feb 09, 2012
- Kenya eyes bilateral deals with China - Jul 17, 2012
- Jharkhand shops shut down over VAT - Feb 04, 2011
- Low costs luring Indian textile makers to Bangladesh - Oct 16, 2011
Tags: 100 million, anand sharma, bilateral trade, business chambers, cooperation, counterpart, fabrics, foreign direct investment, import duties, import tariffs, India, industry minister, New Delhi, previous year, textile imports, textile trade, textiles, trade bodies, vat, yarn