Final draft of National Fibre Policy to be ready by October 31, says AB Joshi

Company Performance

Final draft of National Fibre Policy to be ready by October 31, says AB Joshi

The government-appointed committee is expected to prepare a final report on National Fibre Policy by October 31, Textile Commissioner A B Joshi said during the inauguration of a garment fair in Mumbai.

"The Government has appointed National Manufacturing Competitiveness Councilunder the chairmanship of Ajay Shankar. The first meeting of this committee will be taking place on July 2. The committee will review the old textile policy and prepare a final report on National Fibre Policy by October 31,” said Joshi.

Meanwhile, Clothing Manufacturers Association of India President Rahul Mehta said that the apparel industry, estimated to be worth around Rs 2,00,000 crore now, would double in the next five years.

He said that exports in April and May were 10 per cent higher and the target for the year 2013-14 at USD 17 billion is achievable due to weak rupee, slowdown in China and Bangladesh, possibility of Indo-EU FTA (Free Trade Agreement), improvement in US demand and opening of non traditional markets.The government-appointed committee is expected to prepare a final report on National Fibre Policy by October 31, Textile Commissioner A B Joshi said during the inauguration of a garment fair in Mumbai.

"The Government has appointed National Manufacturing Competitiveness Councilunder the chairmanship of Ajay Shankar. The first meeting of this committee will be taking place on July 2. The committee will review the old textile policy and prepare a final report on National Fibre Policy by October 31,” said Joshi.

The last textile policy was announced in 2000 and subsequently, many developments have taken place in the industry and new sectors like technical textile have emerged, added the Commissioner.

He also pointed out that the removal of 10 per cent excise duty on branded readymade garments has provided big boost to the sector.

Meanwhile, Clothing Manufacturers Association of India President Rahul Mehta said that the apparel industry, estimated to be worth around Rs 2,00,000 crore now, would double in the next five years.

He said that exports in April and May were 10 per cent higher and the target for the year 2013-14 at USD 17 billion is achievable due to weak rupee, slowdown in China and Bangladesh, possibility of Indo-EU FTA (Free Trade Agreement), improvement in US demand and opening of non traditional markets.