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Coimbatore
ITF seeks rationalisation of duty structure on MMF
January 8, 2016
Members of the Indian Texpreneurs Federation (ITF) appealed to Prime Minister Narendra Modi to rationalize the duty structure on Man Made Fibre (MMF), which they claim, can transform the Indian textile industry.
In individual letters to Modi as part of wishlist for the coming annual budget, the members of ITF said that government’s actions, like interest equilisation scheme, export incentive by MIES, and Duty Drawback, have helped the industry improve its export
competitiveness.
ITF secretary, Prabhu Dhamodharan said that rationalization of the duty structure on MMF was required for transforming the textile industry to achieve higher growth rates. He also said that the industry should conduct annual textile and clothing fairs to showcase its developments.
He added that these two measures will bring in major changes to Indian textile industry.
