India: Promoting The Consumption And Production Of Artificial Fibers

　　 A senior official said that the India textile Ministry will soon submit a draft national fiber policy to the government cabinet, which sets the rate of cotton and man-made fiber at a level.

Rita Menon, Minister of textiles, said: "we will submit the draft to the cabinet very soon, but of course it will not be until next month". "Rita,"

In the draft policy, the Ministry of textiles expressed concern about " Man-made fiber Historical differences with cotton rates.

Although cotton is abolished of consumption tax, artificial fiber has a 8% tax burden. This difference is more obvious in the value chain.

　　 Man-made fiber Textiles have a 8% tax burden, but cotton textiles have a 4% tax burden.

The open policy draft said that as long as reducing the consumption tax on man-made and man-made fiber textiles, it could have a positive impact on the consumption of man-made fibers.

The draft said: "since future demand will be mainly based on man-made fiber based textiles, special attention should be paid to promoting the consumption and production of man-made fibres in India".

The textile industry in India is worth 63 billion US dollars. Man-made fiber The proportion of fiber consumption is 41%, while the proportion of cotton is 51%. By comparison, the proportion of global man-made fiber to cotton consumption is 60:40.

　　 The draft policy says that the trend of global fiber consumption may continue to tilt towards man-made fibers, because the growth of global cotton production will be limited because of the limited land planted with cotton.