Commenting on the Union Budget, Mr. Vinod Kumar Ladia, chairman of the Synthetic & Rayon Textiles Export Promotion Council (SRTEPC) said that the hike in excise duty for Man-made Fibre, Filament Yarn, etc from 10% to 12% would make Indian Man-Made Fibre Textiles uncompetitive against natural fibres. He also added that this will go against the spirit of the proposed National Fibre Policy, which envisages a level-playing field for Man-Made Fibre textiles so that the use of the same is increased. He also pointed out that, Man-Made fibre consumption in India is only 35% in India, as against the global usage of 68%.
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