Textile Policy

The New Textile Policy Likely To Fulfil Expectation

Textile Policy Industry experts hope that the proposed new textile policy will address concerns of adequate skilled work force, labour reforms, attract investments in the textile sector, and to provide a road map for the textile and clothing industry. The new policy aims to achieve 300 billion US Dollar textiles exports by 2024-25 and create additional 35 million jobs.

The industry feels that its expectations will be fulfilled. Ravi Chechani of Aditya Birla said, “There should not be any bifurcation in duty structure of cotton and synthetics (polyester, viscose etc.) in the entire value chain from fibre to fashion. And if we have to grow, it is very important that the level should be same for all fibres.”

Smooth funding for ease of business is also on the industry’s wishlist. “All the subsidy should be allowed to be applied online by applicant. There should be no intervention by bank so time can be saved. Necessary certificate from bank is to be demanded to ensure proper utilisation of subsidy. The release of fund should be fast. (presently it stretches to a year or so),” Jatin Jalal of JNJ Associates said. The industry also expects a uniform import duty for textile machinery and spare parts.

“Uniform import duty structure for spare parts for textile machinery will make life simple for the government, customs and customers and will reduce corruption to clear consignments under different nomenclature and heads”, a spokesman of a machinery company said.

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