India’s fibre consumption is projected to increase from 15 million metric tonnes to 23 million metric tonnes by 2030. A government-backed New Age Fibre movement aims to promote sustainable plant-based fibres, boost exports, create rural income opportunities and support innovation
The government has waived the 11 per cent duty on raw cotton imports till September 30 to ease supply pressures on the textile industry. The relief coincides with Indian exporters facing a steep 50 per cent tariff in the US
