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When asked whether the target would be “hard to achieve” due to less demand from the US, EU and China, Union textiles minister Smriti Irani replied in the affirmative, media reports said.
Informing about the steps taken by the government to help the textile and garment industry achieve its export target, the minister, in a written reply to the Lok Sabha, said a special package of incentives was announced in June 2016 to promote garment exports. The package includes relaxation in certain labour laws, income tax concession, 100 per cent employers' contribution to EPFO by government, rebate of state levies for exports, etc.
In addition, the government implements various export promotion schemes to promote exports of all the segments in the sector on a sustained basis, Irani said. “These include, Interest Equalisation Scheme, Merchandise Exports from India Scheme, Market Access Initiative, Market Development Assistance and Duty Drawback.”
India's total textiles and apparel exports stood at $40 billion in 2015-16 compared to target of $47.5 billion. (RKS)
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