MSME ministry plans to amend Coir Industry Act 1953 to modernise infra, ease compliance burden
AI summary
The MSME ministry is set to amend the 1953 Coir Industry Act to broaden product definitions and simplify compliance, aiming to modernize the sector that employs over 750,000 people and posted record exports of ₹6,614 crore in FY26. The changes seek to reduce paperwork, introduce a digital interface, and support new coir-based products and shared processing facilities.
Key takeaways
- The amendment will expand the Act’s definitions to include products like cocopeat, geo‑textiles and composites.
- A single digital portal is proposed to cut repetitive paperwork for coir manufacturers.
- Industry experts highlight coir’s potential to replace synthetic fibres and generate premium prices.
- Export growth has surged 52% to ₹6,614 crore, but profit gains mainly benefit traders, not workers.
Read the original at Mint
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