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National Fibre Policy to be part of India's 12th Plan
01
Dec '11
The inclusive National Fibre Policy intended at ensuring sustainability and development of the fibre industry by ending the discrepancies in taxation and pricing structure of several fibres in the country, would now be included in India's 12th Five Year Plan (2012-2017), Textiles Secretary Rita Menon has said.

On the sidelines of an event for promotion of technical textiles, she informed that the Policy proposal has been pending with Cabinet since 2010, and they now propose to include the same in the 12th plan document, and its acceptance by the Planning Commission would serve as a key to take it forward.

The Policy could not be notified in 2010 as various concerned departments raised issues over tax rate volatility in succeeding financial years, Ms. Menon said, and added that with a view to firmly position India on the world fibre map, the Government had devised a draft policy with a decadal approach for 2010-2020 period.

The draft policy is aimed at fortifying the existing framework and extending institutional and technological assistance for accelerating the development of the country's fibre industry.

Ms. Menon further said that in midst of interest rate volatility, through the 12th Plan, they look forward to prop up the processing, finishing, weaving and garment industries and also the spinning industry to some extent.

Further, while stressing on the need for higher exposure of handloom and handicraft items in the local retail industry, she stated that the craftsmen would have to upgrade themselves into micro entrepreneurs.

Fibre2fashion News Desk - India

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