India is now the largest producer of raw cotton and second largest consumer. But still the country lags behind in many aspects, particularly the production of superfine cotton, which today is needed to produce premium cotton products.
Browsing: National Fibre Policy
Reduction in excise duty on man-made staple fibres of Chapter 55 and filament yarns of Chapter 54.
Interest rates to be capped at 7% for exporters. Expansion of interest subvention scheme to the entire MMF textiles sector. Best FTA treatment to SEZ units. Special Additional Duty (SAD) on MMF. 4% SAD on all man-made fibres should be abolished.
The SRTEPC has played a transforming role over the years in promoting exports of Indian Man-made fibre textiles. Exports of these items which were negligible in the 1960s, have grown substantially to touch Rs. 34,518 crores (US$5.75 billion) during 2013-14.