New Delhi, February 1 (KNN) – Finance Minister Nirmala Sitharaman unveiled major initiatives to increase local production of technological textiles in her eighth straight budget presentation for 2025–2026.
This comprises goods that are essential to many industries, such as infrastructure, healthcare, and agriculture, such as agro-textiles, medical textiles, and geo-textiles.
The Finance Minister suggested adding two more kinds of shuttle-less looms to the list of completely exempt textile equipment in order to support these industries and guarantee price parity.
It is anticipated that this action would enhance manufacturing capacities and make it easier to deploy sophisticated gear.
Sitharaman also suggested changing the Basic Customs Duty (BCD) rate on knitted textiles. The regular rate of “10 per cent or 20 per cent” will be replaced with “20 per cent or Rs 115 per kg, whichever is higher” for nine tariff lines.
By bringing the tariff structure into line with the changing demands of the textile industry, this modification seeks to encourage independence and expansion in the field.
It is anticipated that these actions would boost India’s expanding technical textile sector, encouraging innovation and raising the competitiveness of Indian goods abroad.