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India supports textiles mission

December 9th, 2010 / By: / Industry News

The Indian textiles ministry is working on a policy intended to support domestic companies producing technical textiles and attract foreign investment in the sector. The companies are producing synthetic fibers such as polypropylene, viscose and polyethylene, but lack the technology to move into technical textile production. Specialty fibers not manufactured in India make up an estimated 30 percent of technical textiles, and most of these fibers are imported. The new mission being proposed would spur development of incubation centers for businesses producing flame-retardant, carbon, glass and modacrylic fibers, the four categories of specialty fibers most in demand. The incentives for developing a technical textiles business may include exemption from customs duty on high-tech equipment, reduced duty on the focus fiber categories and exemption of technical textiles produced domestically from general sales taxes for two years.

Source: Indian textiles ministry

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