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Textile Ministry moots cut in excise duty on MMF to 6%
02
Nov '15
The Textiles Ministry has recommended to the Centre to reduce excise duty on man-made fibres (MMF) from 12 per cent to 6 per cent, according to an agency report.

The recommendations came following Textile Commissioner Kavita Gupta's discussions with various export promotion councils and traders' bodies recently.

At a meeting with Tirupur Exporters' Association at Tirupur, Gupta said it was for the government to decide on the reduction, according to sources.

The Textile Commissioner also asked exporters to tap the huge potential in the technical textile sector, whose demand is rising worldwide. She said that if garment manufacturers from Tirupur, whose exports have crossed Rs 20,000 crore, enter the technical textile sector, the revenue would get a major boost.

The government has adequate funds to promote innovative products, she said and urged industrialists to come forward and utilise the funds for developing newer products. (SH)

Fibre2Fashion News Desk - India

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