India's Synthetic Fibres and Filament Yarn Industry has Bright Growth Potential: Government must provide vital raw materials to Indian Fibre and Vorn Industry at Global Prices - Slash Excise Duty Uniformly on all Synthetic Fibres and Filament Varns to 8%

摘要

The Indian textile industry has immense growth potential and if we are to take advantage of the opportunities of this growth potential, it is imperative for both the Government and Industry to take strategic policy measures, with the objective to reach this goal. Textile India Progress has been taking up the various causes of India's textile Industry for over 20 years now and has assessed that the tardy growth of India's textile Industry could be attributed to several factors, one of them mainly being the lack of encouraging Government policies and the other the lack of a dynamic approach by and large by most Indian businessmen. The World textile and clothing trade Is estimated at over US$ 400 billion per annum. The Chinese textile Industry Is producing 12 million metric tonnes of fibres and yarns per annum. In comparison to this, India's textile industry is producing 4.5 million metric tonnes fibres and yarns per annum. It is also noteworthy that two-third of the Chinese textile production is synthetics basest and only one-third cotton based, whereas in case of India's textile industry, two-third of the Indian textile production is cotton based and one-third synthetics based. What does this mean and where does India's textile industry have to address itself for future growth? It is a common fact that world over most countries are depending on synthetic based fabrics and amongst synthetics based fabrics, polyester fabrics are the most preferred ones, with nylon and viscose having limited and selected usage. Acrylic also has its limited usage* Nylon, viscose and acrylic could foresee reasonable growth potential, but one could not hope for a significant jump in production of these fibres and yarns, when compared with that of polyester staple fibre or polyester filament yarn.