Related Keywords: demanding a level playing field, from next budget, in good demand, Indian textile industry, Man made fiber industry, respect to cotton, some rationalization expected, want excise duty reduce, Yarns made of polyester and synthetics
The Indian textile industry has been demanding a level-playing field with respect to cotton for a long time now and some rationalization is expected from budget 2017-18. The textile industry wants the next Union Budget to reduce the excise duty on manmade fibers and bring it on par with that of cotton.
The argument is that garments produced through manmade fibers are primarily used by the economically weaker sections of society.
The manmade fiber requirement of the Indian textile industry is expected to jump by at least five times by 2025 from what it is now.
