National Fibre Policy to be embedded in 12th Five-Year Plan: Textiles Secretary Rita Menon

NEW DELHI: The much-awaited National Fibre Policy aimed at removing disparity in taxation and pricing of various fibres in the country is "embedded" in the 12th Five-Year Plan (2012-2017), a senior Textiles Ministry official said today.

"It is now embedded in the 12th Plan submission... that was the idea, so it is lying somewhere in the Cabinet Secretariat... and the Plan document, whenever it is accepted by the Planning Commission, will be the key to the way...," Textiles Secretary Rita Menon said here.

The comprehensive policy for ensuring growth and sustainability of the fibre industry has been pending with Cabinet since 2010.

The policy could not be notified in 2010 after several departments cited the unpredictability of taxes in coming fiscal years, she said on the sidelines of a Ficci event on promotion of technical textiles.

The government had formulated a draft National Fibre Policy with a decadal perspective of the 2010-20 period to place India firmly on the world fibre map.

The draft policy envisages strengthening the existing framework and providing institutional and technological support for rapid fire growth of the fibre industry in the country.

Amid volatility in interest rates, Menon said, "We would like to support the weaving, processing, finishing and garments and to a limited extent spinning... in the next Plan."

Emphasising on the need for greater exposure of handloom and handicraft products in the domestic retail sector, she said craftsmen have to transform themselves into micro entrepreneurs.