Home / Knowledge / News / Textiles / New Indian govt adopts textile sector friendly policies
New Indian govt adopts textile sector friendly policies
27
Dec '14
The new government, under Prime Minister, Narendra Modi has laid emphasis on an economic vision based on increasing production, export and generating employment.

Particular attention will be given to generate productive employment opportunity for the youth, inclusive and participative growth, skill, scale and speed, develop Make in India brand, zero defect and finally zero effect on environment.

The new government has also taken many initiatives for the development of the textiles sector, considering that the sector accounts for 13.25 per cent of all exports and also is one of the largest employers.

The Scheme of Integrated Textile Parks (SITP) is one of the flagship schemes of the Ministry of Textiles which aims to assist to clusterise investments by providing financial support for world class infrastructure in parks.

According to the Textiles Ministry, implementation of the scheme was held up during the last one year due to administrative bottlenecks and no sanction was given for new parks.

It said the new government moved swiftly to resolve the issues and 13 new textiles parks were approved by the Project Approval Committee (PAC) chaired by the minister of state for textiles, Santosh Kumar Gangwar.

While these 13 textile parks will receive a grant to the extent of Rs 520 crore from government for infrastructure development, they are estimated to bring in private sector investment of about Rs 3,240 crore.

Alongside, this will generate direct employment for about 35,000 persons over the next three years, the Ministry said.

According to the Ministry, besides, a fresh advertisement would be issued calling for proposals for more SITP's for utilisation of the balance provision during the 12th plan period.

With a vision to create an export friendly economy the government introduced several initiatives, include, a proposal to extend 24/7 customs clearance facility at 13 airports and 14 sea ports, resulting in faster clearance of import and export cargo.

Duty free entitlement to garment exporters for import of trimmings, embellishments and other specified items increased from 3 per cent to 5 per cent. This initiative is expected to generate an additional apparel exports estimated at Rs 10,000 crore.

The proposal for imposing duty on branded items was also dropped providing relief to the entire value chain. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 21st Jul 2017

No shortage of cotton & yarn in country: Minister

There is no shortage of cotton and yarn in the country, and the...

Pic courtesy: Sutlej Textiles & Industries Ltd

Textiles | On 21st Jul 2017

Sutlej Textiles’ Q1 FY18 EBITDA expands to Rs 76.28 cr

Sutlej Textiles and Industries Ltd (STIL), one of India’s largest...

Textiles | On 21st Jul 2017

CAI revises 2016-17 cotton crop to 337.25 lakh bales

Cotton Association of India (CAI) has upwardly revised cotton crop...

Interviews View All

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X