Textiles Ministry plans scheme to promote MMF textiles and apparel
The Ministry of Textiles is devising a scheme to boost exports of man-made fibre textiles and clothing to elevate India’s position in the global market.
On February 11, Union Textiles Minister Smriti Zubin Irani informed Parliament through a written reply that the Textiles Ministry is working on a scheme to identify sectors of the textile industry with potential for growth and promote them internationally, the Press Trust of India reported. According to Irani, India is the world’s sixth largest textile and apparel exporter but there is room for growth.
“Accordingly, this Ministry is formulating a scheme to promote identified MMF apparel and technical textile lines to capture substantial share in global trade including the U.S.,” said Irani, the Press Trust of India reported.
The Union Government recently extended its Scheme for Remission of Duties and Taxes on Exported Products (RoDTEP) to all export products, including textiles and apparel, from January 1, 2021. The MMF textile industry has also been included in a government Production-Linked Incentive scheme for 10 key industries.
The scheme has an approved financial outlay of Rs 10,683 crore ($1.6 billion) over a period of five-years.
The government has also named the entire textile sector as an industry of interest in its ‘Make in India’ campaign to boost domestic production and exports. The scheme aims to reduce India’s trade deficit and create employment opportunities.
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