Textile industry has demanded cut in import duty on man-made fibre (MMF) from the present 15 percent to 8 percent in a plea to the Government.
Government, it is hoped will take action to ensure industry turns competitive and also boost country s position in global textile industry.
While Chinese textile industry enjoys lowest or no import duty structure making it cost competitive in the global apparel market, Indian taxation policy in the case of MMF imports has always demoralised its importers, stated Dr Raja Ram Jaipuria, former Chairman of the Confederation of Indian Textile Industry (CITI).
China is backed by high quantity of production, medium quality and medium pricing, while India is able to produce volumes and high quality but not competitive on price terms that hampers its progress in global market, said Dr Jaipuria.
He added that to remove such obstacles, CITI would organise an international textile conference of Asian nations to be keep abreast with the market and technology.
A textile industry delegation will also discuss the matter with Finance Minister prior to the general budget and request him to reduce the import duty on MMF.
