The Union Government has been taking various path breaking policy initiatives and addressing the structural issues relating to raw materials especially MMF raw materials, fibres and filament yarns to gain global competitiveness and achieve exponential growth rate in textiles and clothing manufacturing and its exports. The Government has concluded FTAs with UAE, Australia, Mauritius and also in the process of concluding FTAs with several other countries on a fast track to gain global competitiveness and boost exports. Globally, the ratio of consumption of MMF textile fibre and cotton is 65:35 while the same is reverse in India as the MMF raw materials were expensive upto 23 percent. The Government also has come out with Production Linked Incentive Scheme for encouraging large scale investment in the MMF segment. The Directorate General of Trade Remedies (DGTR) vide its Notification in F.No.6/8/2021-DGTR dated 27th October 2022 has rejected the proposed anti-dumping duty on Monoethylene Glycol (MEG), a major raw material used for the manufacture of Polyester Staple Fibre.
