Policy Changes Are Needed, Says the Textile Sector, to Maintain Competitive Raw Material Prices

The Confederation of Indian Textile Industry (CITI) is advocating for policy adjustments aimed at securing competitive prices for raw materials, particularly cotton and manmade fibers (MMF), to drive the Indian textile industry towards its ambitious $350 billion target by 2030.

CITI recommends the elimination of import duties on all types of cotton, including cotton waste, to facilitate cost-effective access to this essential raw material. Moreover, CITI emphasizes the need to boost cotton productivity by promoting specialized seed varieties.

Regarding MMFs, CITI proposes exempting imported fibers and yarns not domestically available from Quality Control Orders (QCOs). Additionally, it suggests extending exemptions from mandatory QCOs issued by the Department of Chemicals and Petrochemicals to inputs imported by Advance Authorization holders, EoU, and SEZ units, in alignment with existing exemptions provided by the Ministry of Textiles.

Rakesh Mehra, Chairman of CITI, underscores the industry's capability and readiness for growth. He emphasizes that ensuring raw material availability at competitive prices is crucial for overcoming the current industry stagnation and fostering sustainable growth.

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