Prabhu Dhamodharan, Convenor of Indian Texpreneurs Federation (ITF) met Union finance minister Nirmala Sitharaman to discuss measures needed to revive the sector. He said, one of the common demands of the industry was structural changes for man-made fibre (MMF) sector. There was a need to remove the anti-dumping duty on MMF and rationalise GST for this segment. While India is competitive in the international market for several cotton products, it is not so for MMF products.
The industry should be able to tap opportunities in the global market in synthetic products. Another demand placed by the industry is extension of Rebate of State and Central Taxes and Levies (ROSCTL) schemes, now available to garments and made-ups, for yarn and fabric too.
The ITF also suggested that the government comes out with a system to bring the MNC brands to the manufacturing clusters and engage them directly with the suppliers. This will help reduce imports, he said. The industry also demanded multi-skilling facilities in Tirupur.
