The new policy will build on the 2019 textile policy, with an emphasis on making it more responsive to current industry demands. The Tamil Nadu government…
Browsing: new textile policy
The policy provides several fiscal incentives to promote investment and expansion in the textile sector. The Gujarat government announced its new textile policy, which includes a…
Ministry of Textiles is contemplating a New Textile Policy. At present, New Textile Policy has not been finalised and it is at draft stage.
Ministry of Textiles is contemplating a New Textile Policy. At present, New Textile Policy has not been finalised and it is at draft stage.
The Government hinted at lowering excise duty on man-made fibre (MMF) in the new Textile Policy in order to boost investment to meet growing demand from the synthetic textiles industry. While cotton fibre attracts no duty, the Government levies 10 per cent excise duty on MMF. The industry has sought excise exemption on MMF on the grounds that the garments produced through MMF are primarily used by the economically weaker sections of society. Kavita Gupta, Textile Commissioner, Ministry of Textiles, confirmed it on the sidelines of FICCI TAG 2016  the 8th Annual Conference on Textile and Apparel Industry organised by industry body FICCI on September 2 at Hotel Lalit, Mumbai.
In Maharashtra, after the declaration of State Textile Policy, a total of 769 projects with investment of Rs 6,690 crore have been established. The investment have come predominantly into the developed textile machinery of spinning and weaving sector.