In order to end cotton and

According to sources, the Ministry of textiles has issued a cabinet for the draft national fiber policy to the relevant ministries and commissions.

The draft policy says that although man-made fibers and

The draft said cotton was exempt from consumption tax, but artificial fiber was subject to a 8% consumption tax.

In addition, 8% of the central value-added tax is levied on man-made fiber textiles, while cotton textiles can choose 4% of the central value-added tax.

As long as the consumption tax of man-made fibres and man-made fiber textiles is reduced, it will have a very positive impact on the growth of man-made fiber consumption.

The draft said that future demand will tend to be man-made fibers and man-made fiber based textiles. Therefore, India should pay special attention to promoting the consumption and production of man-made fiber textiles.

At present, India man-made fiber accounts for 41% of domestic fiber consumption, while cotton accounts for 51%.

In contrast, the proportion of global man-made fiber consumption to cotton is 60:40.