Home / Knowledge / News / Textiles / Govt to finalize National Fibre Policy by year end
Govt to finalize National Fibre Policy by year end
Dec '10
The Centre is likely to finalize the long awaited 'National Fibre Policy' by year end. The policy is expected to eliminate the discrepancies in the tax structure and prices of several fibres.

The proposed bill is now under consideration of the Lok Sabha. As stated by V Srinivas, Joint secretary, Ministry of Textiles, the Union Government is likely to give its final assent to the policy by December end.

Regardless of the large production base of natural fibres including jute, wool and cotton, and artificial fibres, the share of Indian textile industry in the world market is depleting. The policy under consideration, being a composite policy on exports, is seen to remove the discrepancies in the tax structure and pricing.

The official, while speaking on the country's textile exports, said that the Ministry is eyeing the exports to reach $25 billion by end of the current fiscal.

While speaking to the press, after a function held to announce extension of the 'Scheme for Integrated Textile Park' (SITP), he said that with regard to exports, yarn export is depicting good result with all the councils showing an annual rise of 20 percent. Though the overall apparel exports have registered a decline, the ready-made garment (RMG) segment is an exception. It has enabled the sector to attain the export target of $25 billion by close of the current financial year.

The Centre, in a bid to see more textile parks coming up in the country, decided to extend the STIP. Under the Scheme, the government provides finance up to Rs 400 million for setting up a textile park.

The response that the government is receiving for SITP is quite good, Srinivas said, and also revealed that, of the 40 greenfield projects that the central government has approved, 25 have already come into existence.

Lastly, he even stated that, the Karnataka government too has proposed to set up four integrated textile parks.

Fibre2fashion News Desk-India

Must ReadView All

President Donald Trump; Courtesy: White House

Textiles | On 23rd Jan 2017

US textile industry eager to work with President Trump

The US textile industry is eager to work with President Donald Trump...

Textiles | On 23rd Jan 2017

LyondellBasel expands Texas plant ethylene capacity

US based producer of petrochemicals and speciality chemicals...

Textiles | On 23rd Jan 2017

China’s cotton imports down 39% in 2016

China’s total cotton imports declined by 39.1 per cent to ...tons in...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Rupa Sood and Sharan Apparao

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search