Confederation of Indian Textile Industry (CITI) has welcomed the relief package announced by Finance Minister in Parliament on 29th November 2007 for the textile sector. In a statement issued here, Mr P.D. Patodia, Chairman, CITI stated that reduction of customs duty for man-made fibre and the additional subvention for packaging credit will help the industry, but only in a limited way. Over 75% of textile exports of India consist of cotton products and CITI's request for reducing import duty on cotton to 5% has not been conceded. In the case of packing credit since a cap of 7% has been stipulated, most units will get less than 2% subvention in practice.
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