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Government contemplating reducing excise duty on man-made fibre

To boost investment and meet growing demand from the synthetic textiles industry, the government is looking at lowering excise duty on man-made fibre (MMF). The Ministry of Textiles is contemplating a cut in excise duty on MMF in the new policy scheduled to be announced in a month’s time. While cotton fibre attracts zero duty, a 10 per cent excise duty is levied on MMF. On several occasions, the MMF industry had asked the government to exempt MMF from excise duty, arguing that the garments produced by them are primarily used by economically weaker sections of society.

The textile commissioner, Kavita Gupta too has affirmed the government is considering a cut in MMF excise duty. Gupta is speaking on the sidelines of TAG 2016, the 8th Annual Conference on Textile and Apparel Industry organised by FICCI. India's fibre demand is likely to double in 10 years with the government increasing impetus on textiles sector for both domestic consumption and exports of readymade garments. India's cotton fibre output currently stands at 6.5 billion kg, which may go up to 8 billion kg by 2025.

 
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