Home / Knowledge / News / Textiles / Rationalization of duty structure for synthetic fibers & filament expected

Rationalization of duty structure for synthetic fibers & filament expected

Feb '07
Indian Textile Industry is now a $50 billion industry, with export contributing exceeding $18 billion. It is the largest employer across the value chain from Fiber to Apparel and continues to offer high potential for job creation.

Quota phase out in 2005 offered barrier-free access to Global Markets but as expected, market access was at the cost of intense competition and price cuts affecting profitability. But, undeterred by the pressure, the industry witnessed large flow of investment availing the benefit of 5 percent interest subsidy under the TUF Scheme before the expiry of Scheme on March 31, 2007.

The gradual shift to organised retail and large commitment of investment in Indian Retail Industry will certainly be an enabler for the Indian Textile industry for accelerating growth of domestic market for textile.

Industry continues to suffer from one disadvantage of heavy duties on non-cotton/synthetic fibers. As a result, share of synthetic fibers continues to be at 40 percent against the world benchmark of 60 percent of total fiber consumption. It makes affordable textile costly and render Indian manufacturer of blended and synthetic textile non-competitive vis-à-vis their counterpart China, Pakistan.

What do we expect in this budget for textile industry?

As market enablers, it is imperative that the handicap for the synthetic fibers which was getting reduced will be fully eliminated with rationalization of the duty structurefor synthetic fibers and filament. It will certainly give a boost in export as India would be able to compete in categories other than cotton, expand the export basket and increase both growth and share in the world market. At the same time, affordability of synthetic textile would lead to higher consumption in the domestic market.

Must ReadView All


E-commerce | On 19th Sep 2021

Switzerland commits $4.4 mn for UNCTAD’s e-com, digital economy work

Switzerland recently announced a contribution of $4.4 million to the...

Pic: Shutterstock/humphery

Textiles | On 18th Sep 2021

China wants to join CPTPP; Japan to consult members to respond to bid

Chinese commerce minister Wang Wentao recently submitted an...

Pic: Shutterstock

Textiles | On 18th Sep 2021

Eurozone GDP recovers quicker than expected after lockdowns: EU report

The eurozone economy recovered more rapidly than considered earlier...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Strongly believe in 'people first' policy.

Textile Industry, Head honchos

Textile Industry
Head honchos

Led by MMF, Indian apparel exports likely to double in next 3 years

Textile Industry, Head honchos

Textile Industry
Head honchos

Quality & affordability to affect market acceptability of new fibres

Aashumi Mahajan,

Aashumi Mahajan

The Luxe Maison is a premiere haute couture e-boutique established after...

Vikash & Vishal Pacheriwal,

Vikash & Vishal Pacheriwal

Launched in 2018, Raisin is a contemporary fusion fashion brand that aims...

Bharat Ahuja,

Bharat Ahuja

A mono store brand, <b>Bharat Ahuja's</b> Desire Design Studio has emerged ...

Kevin Young & Tom Lucas, Web Industries

Kevin Young & Tom Lucas
Web Industries

Web Industries is a precision formatter of nonwoven materials used in baby ...

Sanjay Raut, Garware Technical Fibres Ltd

Sanjay Raut
Garware Technical Fibres Ltd

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Frank Heislitz, Freudenberg

Frank Heislitz

Freudenberg Performance Materials is a leading global manufacturer of...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Anjali Bhaskar, Samatvam

Anjali Bhaskar

<b>Anjali Bhaskar</b> has an experience of 12 years in the fashion...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by <b>Aprajita Toor</b> were born out of a deep desire to...

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


Leave your Comments

September 2021

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

Advanced Search