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Related Keywords: 500 tonnes by 2020, 500 tonnes now, 80 percent of total silk production, consumed locally, from about 34, India, largest consumer of silk, meet growing demand, popular benchmark, reach about 38, second largest producer of silk, Silk Mark Expo, steps taken to increase production capacity

India is the second largest producer of silk after China and the largest consumer of silk. About 80 percent of the total silk production is consumed locally. To meet the growing demand, steps have been taken to increase the total silk production capacity which is expected to reach about 38,500 tonnes by 2020 from about 34,500 tonnes now, Puneet Agarwal, Joint Secretary, Union Ministry of Textiles, said at the inauguration of Silk Mark Expo 2017 held in Chennai.

Related Keywords: boost investment, cut in excise duty on MMF, from synthetic textile industry, garments produced through MMF, meet growing demand, Ministry of Textiles, MMF industry, new policy, seeking exemption on MMF from excise duty, set to announce, used by economically weaker sections

The Ministry of Textiles is set to announce a cut in excise duty on MMF in the new policy in order to boost investment to meet growing demand from the synthetic textile industry. The MMF industry has on several occasions represented to the government seeking exemption on MMF from excise duty, arguing that the garments produced through MMF are primarily used by the economically weaker sections of society.

While cotton fibre attracts no duty, the government has levied 10 per cent excise duty on MMF.

Related Keywords: across various industries, composity industry, exploring partnership opportunities with Indian firms, Indian technical textile industry, keen to penerate their products into India, likely to grow over next five years, meet growing demand, participating in 'Technotex, Taiwanese composite and technical textile companies, TCA, TTF

With technical textile industry of India likely to grow at a rate of 20 percent annually to touch $30 billion over the next five years and composite industry also pegged at $2.2 billion with an expected growth of 15 percent per annum over the next four years. Taiwanese composite and technical textile companies are exploring partnership opportunities with Indian firms across various industries to meet their growing demand.

Related Keywords: DAK Americas LLC, in the Americas, largest integrated producers of PET resins, lower denier fibers, main producer of PSF, meet growing demand, nonwoven applications, to add PSF capacity, used in textiles

DAK Americas LLC is one of the largest integrated producers of PET resins in the world and the main producer of polyester staple fibers in the Americas announced its plans to add 230 million pounds of polyester staple fiber (PSF) capacity to meet the growing demand in the Americas. The new fiber capacity will be installed at Dak’s PET resin site in Bay St. Louis, Mississippi.