October 31, 2015
The office of textile commissioner has recommended the Centre to reduce the excise duty on Man Made Fibres (MMF) from 12 to six per cent.
The recommendations were made, based on the discussions with various export promotion councils and also traders body a couple of days ago, since the yarns made of MMF, like polyster and synthetic, was good in demand, Textile Commissioner, Kavita Gupta said.
Addressing a meeting with the exporters at nearby Tirupur,
Kavita said that it was for the government to decide on the reduction, Tirupur Exporters’ Association sources, said. The official asked the exporters to tap the huge potential in the technical textile sector,
the market and demand for which was increasing day by day across the
globe, they said.
Though the garment exports from Tirupur have crossed Rs.20,000
crore, once entered in the technical textile sector, the revenue would cross lakh and lakh crore, she said.
The Government is having adequate fund for promoting innovative
products, she said and urged the industrialists to come forward and utilize it for developing newer products, the sources said.