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Home arrow Latest News arrow India Adds 20 Percent Import Tariffs for Chinese Textile Products

India Adds 20 Percent Import Tariffs for Chinese Textile Products PDF Print E-mail
Written by Maizer   
Wednesday, 15 August 2018

India doubled import taxes on more than 300 textile products by 20 percent on Tuesday (7/8). The country dubbed as the largest producer of cotton is trying to reduce the increase in imports from China.


This is an increase in tariffs on textile imports for the second time in several months after increasing imports of other products, namely fiber and clothing last month.


India's total textile imports have indeed jumped 16 percent to a record high of US $ 7 billion as of March 2018. Of this amount, around USD 3 billion comes from China, reported by Reuters.


This change is expected to provide convenience for the Indian domestic textile industry. However, the Indian government did not disclose details of 328 textile products that would be subject to an increase in textile import tariffs.


In addition to information, India's imports increased making India's trade deficit with China in textile products a record high of USD1.54 billion in the first quarter of 2018. This is worrying for industry players because India recently became an exporter of textile products to China.


Sanjay Jain, president of the Indian Confederation of Textile Industries, told Reuters (9/8) that he did not expect China to repay India's import tariff increase because it still has a trade surplus with India.


He also said that India's textile product imports could fall to USD6 billion in 2019 as a result of this latest tariff increase.


This import tariff does not only interfere with Chinese products. Bangladesh, Vietnam, Cambodia also felt it, because these three countries did not agree on a free trade agreement with India.


"This 20 percent tariff will not apply to products sourced from these countries because of FTAs," said Jain.


India Tambah Tarif Impor 20 Persen untuk Produk Tekstil Cina


India melipatgandakan pajak impor pada lebih dari 300 produk tekstil hingga 20 persen pada Selasa (7/8). Negara yang dijuluki sebagai produsen terbesar kapas ini berusaha untuk mengurangi peningkatan impor dari Cina.


Hal ini merupakan peningkatan tarif impor tekstil untuk kedua kalinya dalam beberapa bulan setelah meningkatkan impor produk lainnya, yaitu serat dan pakaian bulan lalu.


Total impor tekstil India memang telah melonjak 16 persen ke rekor tertinggi atau senilai USD7 miliar hingga Maret 2018. Dari jumlah ini, sekitar USD3 miliar berasal dari Cina, dilansir dari Reuters.


Perubahan ini diperkirakan menyediakan kemudahan bagi industri tekstil domestik India. Namun, pemerintah India tidak mengungkapkan rincian dari 328 produk tekstil yang akan dikenakan kenaikan tarif impor tekstil.


Sebagai tambahan informasi, impor India meningkat membuat defisit perdagangan India dengan Cina dalam produk tekstil ke rekor tinggi USD1,54 miliar pada kuartal I 2018. Hal ini mengkhawatirkan para pelaku industri karena India baru-baru ini menjadi pengekspor produk tekstil ke Cina.


Sanjay Jain, presiden Konfederasi Industri Tekstil India, mengatakan kepada Reuters(9/8) bahwa dia tidak mengharapkan Cina akan membalas kenaikan tarif impor India karena masih memiliki surplus perdagangan dengan India.


Ia juga mengatakan bahwa impor produk tekstil India bisa jatuh ke USD6 miliar pada 2019 sebagai akibat dari kenaikan tarif terbaru ini.


Tarif impor ini tidak hanya mengganggu produk Cina. Bangladesh, Vietnam, Kamboja pun merasakannya, karena ketiga negara ini tidak menyepakati perjanjian perdagangan bebas dengan India.


"Tarif 20 persen ini tidak akan berlaku untuk produk yang bersumber dari negara-negara tersebut saja karena FTA," kata Jain.

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