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

US merchandise trade with India, 2012–16; Courtesy: USITC

Textiles | On 27th Jul 2017

India becomes US’ 9th largest trading partner in 2016

In 2016, India became the United States’ 9th-largest single-country...

Textiles | On 27th Jul 2017

GST will lead to further increase of MMF prices

The Goods & Services Tax (GST) rolled out on July 1, 2017 is not...

Textiles | On 27th Jul 2017

Global yarn production improved 30% q-o-q in Q1: ITMF

In the first quarter of 2017, global yarn production rose by almost...

Interviews View All

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Kerem Durdag
Biovation II LLC

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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


July 2017

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

news category

Related Categories:

Planning to Take the Leap towards

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search