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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


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