• Linkdin

MMF sector seeks rationalisation of duty structure

13 Jan '16
1 min read

As the countdown for the Union Budget begins, synthetic fibre manufacturers have sought rationalization of duty structure on manmade fibre (MMF) claiming that the move could propel the textile industry towards a higher growth rate.

As many as 320 members of the Indian Texpreneurs Federation (ITF) have in individual letters to Prime Minister Narendra Modi, appealed for rationalisation of the duty structure on MMF, according to ITF Secretary Prabhu Damodharan, a new agency reported.

Lauding recent government measures such as interest equalisation scheme, export incentive by MIES and Duty Draw Back, Dhamodharan said such measures had helped the industry improve its export competitiveness as also increase market share across the globe.

Observingthat the Indian textile industry has the raw materials and the capacities to produce a variety of products with best sustainable efficient manufacturing practices, the ITF called for organization of an annual Mega Textile and Clothing Fair, to enable the industry display its areas of strength.

These two things, if announced in the upcoming Budget, will provide transformational change to Indian textile industry, Damodharan said. (SH)

Fibre2Fashion News Desk - India

Leave your Comments

Esteemed Clients

Woolmark Services India Pvt. Ltd.
Weitmann & Konrad GmbH & Co. KG
VNU Exhibitions Asia
USTER
UBM China (Shanghai)
Tuyap Tum Fuarcilik Yapim A.S.
TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
X
Advanced Search