Home / Knowledge / News / Textiles / Govt works out strategy to encourage textile sector
Govt works out strategy to encourage textile sector
23
Feb '08
The policy of setting up a special purpose vehicle (SPV), for encouraging and elevating the textile industry, is already in the pipe line. The Government has proposed to set up an SPV with participation by 11 export promotion councils (EPCs) who will be vested with the responsibility of tying up with giant international buyers.

The SPV will get timely allocation of finance from the Government and in return, it will have an obligation to bring foreign direct investment (FDI) into the country by inviting textile machinery manufacturers to establish its base on domestic grounds.

The SPV will have their own independent decision-making powers and will also set up retail outlets in popular international cities and at major international airports like London, Paris, New York and Toronto.

The 11 councils which will form the SPV include Apparel Export Promotion Council (AEPC), Cotton Textile Export Promotion Council(TEXPROCIL), Synthetic Rayon Textile Export Promotion Council (SRTEPC), Powerloom Development Export Promotion Council(PDEXCIL), Indian Silk Export Promotion Export Promotion Council (ISEPC), Jute Manufacture Development Council (JMDC) and Wool and Woollen Export Promotion Council (WEPC), among others.


Must ReadView All

Courtesy: EVG photos from Pexels

Apparel/Garments | On 16th Aug 2018

Bangladesh ups garment export target to $32.689 bn

The Government of Bangladesh has increased the country’s readymade...

Courtesy: PR Newswire

Apparel/Garments | On 16th Aug 2018

Shoppers go to stores for thrifting experiences: Survey

Despite growth in e-commerce, shoppers still head to retail stores...

Pak ministry invests in training textile sector workers

Textiles | On 16th Aug 2018

Pak ministry invests in training textile sector workers

Pakistan’s ministry of commerce and textile industry is offering...

Interviews View All

Top executives
Textile industry

It will take some time for the people to change their buying choices

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Kazuaki Yazawa
Purdue University

Scientist <b>Kazuaki Yazawa</b> has developed thermoelectric semiconductor ...

Isabel Herranz
European School of Business & innovation

Cutting-edge ideas like the Internet of Things and artificial intelligence ...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Sonam & Paras Modi
SVA

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

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


August 2018

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

news category


Related Categories:

Advanced Search