Fashion
The pros and cons of India’s revised GST
The tax is by design largely a pass-through on imports for registered businesses.
A flat 5 per cent rate on synthetic fibres and yarns will correct years of distortion.
The structural drivers of imports remain untouched.
Faster refunds give domestic weavers and knitters the ability to quote more aggressively.
Competitiveness gains, not import curbs, will be the true outcome.
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