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Textile ministry pitches for fibre-neutral import policy
05 Jun '09
1 min read
The textile ministry has recommended to the finance ministry seeking a fibre- neutral import policy, which in other words also means not having import duty on fibres, particularly man-made fibres as is done in the case of raw cotton fibre.
Fibre2fashion spoke to a senior official of the textile ministry who confirmed the news by saying that it was meant particularly for imports of man-made fibres, on which currently 5 percent import duty is imposed.
He added by saying that this benefit was meant to be extended to the man-made fibre sector to help in the development of the industry, in the same way as there were no levies on imports of cotton.
Fibre2fashion spoke to a senior official of the textile ministry who confirmed the news by saying that it was meant particularly for imports of man-made fibres, on which currently 5 percent import duty is imposed.
He added by saying that this benefit was meant to be extended to the man-made fibre sector to help in the development of the industry, in the same way as there were no levies on imports of cotton.
Fibre2fashion News Desk - India
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