Speaking on the sidelines of a Ficci conference, textiles secretary Rita Menon said: The National Fibre Policy will be embedded in the 12th Five
Year Plan, which will strengthen the fibre economy of the country and make the Indian textiles and garments sector competitive.
The ministry had constituted a 41-member working group to formulate the policy. The working group comprised eight sub-groups, including cotton, man-made fibres, jute, silk, wool, other natural fibres, speciality fibres (technical textiles) and speciality (suvin and organic) cotton.
Commenting on the delay, DK Nair, secretary general, Confederation of Indian Textile Industry (Citi), said: The government policies are mainly responsible for this delay... There is a mismatch between our production and global consumption trends because we are not able to use man-made fibres in large quantities.
V Srinivas, joint secretary, ministry of textiles, told FE: The draft of the policy had specific financial commitments and was sent to 14 ministries for comments, which delayed the matter.
The domestic fibre consumption ratio between man-made fibres and cotton in India currently stands at 41:59, while it is almost 60:40 globally.
The global fibre consumption trend in the future is likely to further tilt in favour of man-made fibres as there is little growth potential for cotton worldwide due to limited availability of land for cultivation.
Nair said the policy is not just aimed at augmenting investment and increasing fibre availability in the country, but also correcting fiscal anomalies and policy limitations that are currently present in the fibre ecosystem, in order to ensure balanced growth.