Consultative process to start to formulate National Fibre Policy – Mr Maran
12 Jun '09
4 min read
The Study highlights major policy aspects which are impacting on the growth of T&C Industry. These includes
- Policy approach towards cotton fibre and Manmade Fibre
- Stringent labour laws
- Delay in disbursement of TUFS refunds
The study recommends the following steps by the both the Government and the Industry for achieving the high growth rates
- Competitiveness through removal of infrastructure bottlenecks, Rationalization of taxes and flexibility in labour laws.
Besides, above interventions, the Study recommends that the Government should negotiate better trade terms with major imparting countries; streamline EXIM procedures to reduce transaction cost; take immediate steps to clear the backlog of TUFS; formulate a comprehensive fibre policy and reduce interest rates to provide working capital to the industry.
The Study goads the industry to take immediate steps to explore new markets and reduce dependence on EU 27 and USA as well as take measures for skill up gradation of workforce to ensure availability of skilled manpower to the industry.
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