The government is may increase import duty of around 300 textiles to 20 percent from the current 5-10 percent, said people familiar with the matter.

Finance minister Piyush Goyal has approved the proposal and the announcement is expected soon most likely by Monday, said sources requesting anonymity.

There is a proposal on the relaxation of foreign direct investment (FDI) norms in the sector. Finance ministry, commerce ministry and textile ministry officials are likely to meet Prime Minister on August 10 to discuss this issue.

First Published:Aug 6, 2018 8:13 AM IST