“Currently, we are having discussions with the Labour Ministry. Tamil Nadu has already done it. We also want modification in contract laws,” Verma said.
According to the Textiles Secretary, the growth of textile sector was limited due to factors such as high cost of production, sudden spurt in interest rates on working capital and increase in labour wages.
She said the Textiles Ministry has held discussions with the Finance Ministry to offer some tax incentives to the weavers to make the sector attractive.
This also included tax holidays and interest subvention among others. She said a meeting of all stakeholders would be held next month to take stock of the current export situation given that exports from India would become unviable after 2017 as New Delhi was a signatory to WTO guidelines.
The Ministry would also review which were the subsidies and concessions that could be continued or phased out.
“Most of the incentives or subsidies given by the Ministry are production related. Those related to processing and skilling would be continued,” she said. (SH)
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