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Govt to unveil new textile policy in July
Jun '15
The government will unveil an ambitious new national textiles policy in July that seeks to create 35 million new jobs by attracting foreign investments, according to media reports.

"The new national textiles policy aims at creating 35 million new jobs by attracting foreign investments. The policy will be announced in July after the Cabinet approval," textiles secretary SK Panda told media persons in Mumbai.

An expert panel had submitted the draft of the new policy, which aims at addressing concerns over lack of enough skilled workforce and labour reforms besides attracting investments and providing a roadmap for the textile and clothing industry.

The panel was constituted last year. The textiles ministry has also sought Rs 12,000 crore for the Technology Upgradation Fund (TUF) scheme for the ongoing 12th Plan (2012-17), he said.

The government is also considering setting up modern apparel garment manufacturing centres in each of the seven north-east states.

"We have decided to establish one modern apparel garment manufacturing centre in every northeastern state. The Centre will spend Rs 20 crore for this new programme," Panda added.

Meanwhile, Clothing Manufacturers Association of India (CMAI) said it is hopeful of achieving exports target of $18 billion this fiscal, up from $16.8 billion in previous year.

"We are hopeful of achieving an exports target of USD 18 billion in FY16 due to improving US economy. In view of the infrastructure issues and rising labour cost in Bangladesh and China, export growth looks brighter for us," CMAI president Rahul Mehta said. (SH)

Fibre2Fashion News Desk – India

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