Kolkata, Oct 7 (Inditop.com) The central government has constituted a working group to formulate a National Fibre Policy (NFP) by the end of the year, Textiles Minister Dayanidhi Maran said Wednesday.
“Hopefully, by the end of this year, a comprehensive policy on all fibres will be in place,” Maran said during a seminar with the industry players here.
He expressed the hope that the NFP will provide a level playing field to all the textile industry players.
On the global economic meltdown and its effect on the textile industry, Maran said: “According to Apparel Export Promotion Council data, export is up 2-3 percent at present compared to the corresponding period last year.”
He said economic revival in the West, especially in the European market, is the main cause behind this positive picture.
To make Indian exporters globally competitive and provide them a uniform platform, the duty structure of manmade fibres will be brought down as they are expensive, he said.
In India, manmade fibres provide 40 percent of the industry while natural fibres constitute 60 percent.
