A policy is being framed to give equal fiscal treatment to all fibres so that common man gets clothing at competitive price, Textiles Minister Dayanidhi Maran said in the Rajya Sabha on Wednesday.
"The policy is being framed to ensure man-made fibres are available at competitive prices," the minister said during Question Hour.
He said the policy would address the issue of promoting all fibres equally and equitably for a balanced growth of the entire textiles sector.
Maran said cotton production in the country has shown considerable growth.
Referring to fall in textile export, he said it was due to the effect of global slowdown on the United States and European Union markets.
The minister said that for diversifying textile exports and reducing dependence on the European Union and the US markets, the government is promoting export policy regime which covers all potential markets, including countries of South East Asia.
To another supplementary, he said government was making efforts to revive the National Textile Corporation and other sick textile mills in the country.