Home / Knowledge / News / Textiles / Textiles & apparel share in exports rises to 15%: Report
Textiles & apparel share in exports rises to 15%: Report
25
Nov '16
Courtesy: PIB
Courtesy: PIB
The share of textiles and apparel in total exports of India increased to 15 per cent in 2015-16, compared to 13 per cent in 2013-14, according to a report released by the textiles ministry. FDI equity inflow grew by 16 per cent in the 2015-16 over fiscal 2013-14 and the government has also approved a special package of Rs 6,000 crore for the sector.

The ‘Make in India – Textile and Apparel Sector Achievement’ report released by the ministry of textiles and the department of industrial policy and promotion states that the special package has been provided with the aim of creating 1 crore jobs in the next 3 years. The funds will also be used for attracting investments worth $11 billion and generate $30 billion in exports.

Categories like readymade garments, wool and woolen textiles, silk, carpets, handicrafts and coir and coir products recorded the highest export growth. Textile and apparel exports are estimated to reach $62 billion by 2021 from $38 billion in 2016. While Europe and America are the key markets for India, new markets such as Iran, Russia and South America are opening up new possibilities.

The Revised Restructured Technology Fund Scheme (RRTUFS) has been modified to launch the Amended Technology Upgradation Fund Scheme (ATUFS), which provides a one-time capital subsidy for ‘eligible machinery’ for a period of 7 years. The scheme with a budget provision of Rs 17,822 crore for 7 years has been introduced to attract investment of up to 1 lakh crore and employ 35 lakh people. An additional incentive of 10 per cent subsidy is provided to garmenting units which avail the Capital Investment Subsidy (CIS) under ATUFS.

The report says that a variety of tax reforms and benefits have been introduced in the past two years to promote the sector and improve infrastructure. The textiles ministry is also implementing North East Region (NER) Textile Promotion Scheme (NERTPS) with a total outlay of Rs 1038.10 crore to promote employment and encourage entrepreneurship especially amongst women. The Scheme for promoting Geotechnical Textiles in North East Region (NER) with a budget of Rs 427 crore has also been launched to promote and utilise geo textiles in development of the infrastructure in the NER states.

To help budding entrepreneurs develop innovative technical textile products, 6 Focus Incubation Centres (FIC) on Technical Textiles have been set up at a cost of Rs 17.4 crore. Efforts are also being made to promote the handloom sector that employs around 4.3 million people and has about 2.37 million handlooms.

Under ease of doing business initiatives, the government has exempted textiles and textile articles imported from specific countries like European Union, Serbia, Poland, Denmark and China from testing of samples for presence of Azo Dyes. The report also states that under the Integrated Skill Development Scheme (ISDS), the ministry has trained more than 5.3 lakh youth in textile trades. (KD)

Fibre2Fashion News Desk – India


Must ReadView All

GST Council allows ITC refund to fabrics

Textiles | On 23rd Jul 2018

GST Council allows ITC refund to fabrics

The Goods and Services Tax (GST) Council at its 28th meeting held...

GST slashed on Chenille fabrics, knitted cap to 5%

Textiles | On 23rd Jul 2018

GST slashed on Chenille fabrics, knitted cap to 5%

The Goods and Services Tax (GST) on Chenille fabrics and other...

Courtesy: Pexels

Apparel/Garments | On 23rd Jul 2018

Turkey aims to export apparel worth $25 bn in 5 years

Turkey aims to increase its apparel exports by 50 per cent in 2018...

Interviews View All

Top executives
Fashion houses, India

With technology, it has become easier to ensure IPR

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Manuele Baggini

Comec Italia Srl is a world leader in the production of printing machines. ...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Igor Chapurin
Chapurin

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

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

Leave your Comments


July 2018

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

news category


Related Categories:

Advanced Search