Home / Knowledge / News / Textiles / TexMin trying to seek Cabinet approval for National Fibre Policy
TexMin trying to seek Cabinet approval for National Fibre Policy
03
Jan '11
Recently the Textiles Ministry has revealed that it is trying to seek an approval for the National Fibre Policy from the Cabinet. The National Fibre Policy intends to put an end to the tax inequality between cotton fibre and man-made or synthetic fibre. According to the Ministry, the draft of the Fibre Policy has been framed after discussing the matter with all stakeholders and it is trying to get the consent for the same within the next few months.

The Textiles Ministry has expressed its apprehensions in the draft policy over the age-old disparity between synthetic fibres and textiles, on one side and cotton fibre as well as cotton textiles, on the other hand, in terms of high excise duties. The draft also highlighted that in spite of the considerable cutback in the excise duties on synthetic fibres, the tariffs are still high.

Cotton, on one hand, is free from excise duty while on the other hand, man-made fibre (MMF) has an excise duty of 8 percent on it. As per the draft, a cutback in the excise duties on synthetic fibres as well as textiles will positively influence its use and lead to the growth in its consumption.

The draft policy also pointed out that there is a need to enhance the production as well as use of man-made fibres in our country owing to the demand for textiles made out of man-made fibres that is expected to increase in the coming future.

Currently, 51 percent of the domestic fibre consumption of our country for textile production is constituted by cotton whereas 41 percent is constituted by man-made fibre. The global scenario is, however, slightly different. At the global level, the proportion of synthetic fibre consumption to cotton consumption is 60:40.

The draft policy also revealed that cotton production is expected to decline throughout the world owing to the shortage of land available for the purpose of cotton cultivation. This would boost the consumption of man-made fibres at the global level.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 24th Jun 2017

Applied DNA to tag cotton for 2017/18 US ginning season

Applied DNA, provider of DNA-based supply chain security,...

Apparel/Garments | On 24th Jun 2017

NPD Group launches Trend Tracker for apparel trends

Global information company the NPD Group has launched Trend Tracker,...

Textiles | On 24th Jun 2017

Cotton USA’s first innovation competition in UK ends

Cotton USA has announced the successful close to its first innovation ...

Interviews View All

Asim Dalal
Indo Count Retail Ventures

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

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

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

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

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...

Ashok Desai
Bombay Textile Research Association

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

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

SUBSCRIBE


Browse Our Archives

GO


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