New Delhi: The government has constituted a working group to formulate a national fibre policy by the end of this year, textiles minister Dayanidhi Maran said on Thursday.
The new policy will attempt to provide a long-term strategy on India’s fibre consumption and export potentials, and the effect of multiple duties on man-made and natural fibres.
Maran also cleared a Rs2,546 crore subsidy owed to textile manufactures under the Technology Upgradation Fund Scheme.