Man-Made Fibres

India has removed the anti-dumping duty on Purified Terephthalic Acid (PTA), a key raw material for the manufacture of manmade fiber and yarn. GST on cotton is five per cent across the entire textile value chain whereas GST rates on manmade fibers and textiles are 18 per cent, 12 per cent and five per cent on fiber, filament yarn/spun yarn and fabrics respectively. This inversion in the duty structure was corrected. So rationalization of GST on the manmade fiber value chain will help to boost growth of the manmade fiber sector.

Technical textiles is one of the fastest growing sub-segments in India and has been recognised as a champion sub-segment under textiles. With a view to position the country as a global leader in technical textiles, the Prime Minister and his Cabinet Committee on Economic Affairs (CCEA) have given the approval to set up a National Technical Textiles Mission with a total outlay of USD 194 Mn in February, 2020. 
The Mission shall be set up for a four-year implementation period from FY 2020-24

In order to enhance exports to international markets, CCEA chaired by Prime Minister Narendra Modi, has given its approval for introducing the Scheme for Remission of Duties and Taxes on Exported Products (RoDTEP). This would lead to cost competitiveness of exported products in international markets and better employment opportunities in export-oriented manufacturing industries.

RoDTEP scheme will take under its ambit refund of GST taxes and import/customs duties for inputs along with VAT on fuel used in transportation, mandi tax, duty on electricity used during manufacturing.