Dec 21: The Government has taken the following steps to modernize the textile industry, enhance export and promote FDI in the textile sector on a pan-India basis:
i) Government has approved the setting up of Seven PradhanMantri Mega Integrated Textile Region and Apparel (PM MITRA) Parks in Greenfield/Brownfield sites with an outlay of Rs. 4,445 crores for a period of seven years up to 2027-28. These parks will enable the textile industry to become globally competitive, attract large investments and boost employment generation.
ii) Government has approved the Production Linked Incentive (PLI) Scheme for Textiles, with an approved outlay of Rs 10,683 crore, to promote the production of Man-Made Fibre (MMF) Apparel, MMF Fabrics and Products of Technical Textiles in the country to enable Textile sector to achieve size and scale and to become competitive.
iii) Government has allocated an outlay of Rs 1480 crore for the National Technical Textiles Mission (NTTM) to promote and develop the technical textiles sector in India.
iv) Silk Samagra-2 scheme is being implemented from the year 2021-22 to 2025-26 for the development of the sericulture industry in the country.
v) Government is also implementing various schemes/ programmes such as SAMARTH- Scheme for Capacity Building in Textile Sector, National Handloom Development Programme, Raw Material Supply Scheme, National Handicraft Development Programme, Comprehensive Handicrafts Cluster Development Scheme, Integrated Wool Development Programme etc. to promote and develop the indigenous textile sector.
vi) India has so far signed 13 Free Trade Agreements (FTAs) including the recently concluded Comprehensive Economic Partnership Agreement with UAE and Economic Cooperation and Trade Agreement with Australia; and 6 Preferential Trade Agreements with various trading partners. The government has entered into negotiations for FTA with trading partners such as the United Kingdom, European Union, and Canada for enhancing market access to Indian products, including textiles, keeping in mind the national interest and domestic sensitivities.
vii) Market Access Initiative scheme provides financial support to various Export Promotion Councils and Trade Bodies engaged in the promotion of textiles and garments exports, for organising and participating in trade fairs, exhibitions, buyer-seller meets etc.
viii) Government has put in place a liberal and transparent investor-friendly Foreign Direct Investment (FDI) policy. 100% FDI is allowed in the textile sector under the automatic route. The amount of investment brought through FDI in the textile sector from 2017-2022 was US $ 1522.23 million.
Following MoUs have been signed with other countries to boost the textile industry in the country:
- MoU with the National Agriculture Food Research Organization, Japan to promote collaborative research in the field of silkworm and silk industry.
- MoU signed between Central Silk Board and “Uzbekipaksanoat”, Uzbekistan on cooperation in Sericulture and Silk industry.
- MoU signed between M/o Textiles, Govt. of India and Department of Agriculture, Fisheries and Forestry, Govt. of Australia for establishing a Joint Working Group on cooperation in the field of Wool and Woolen products.
- MoU between India and Sri Lanka on procedural arrangements for the import of apparel articles from Sri Lanka to India on Tariff Rate Quota under India Sri Lanka Free Trade Agreement.
- MoU between India and Sri Lanka on cooperation in the development of Small and Medium-sized Enterprises in handloom, power loom and textiles.
- MoU signed between Textiles Committee, Govt. of India and M/s Nissenken Quality Evaluation Centre, Japan.
The government is implementing various schemes such as PM-MITRA, PLI, NTTM etc. for undertaking numerous technology-centric approaches for increasing production in the textile sector all over the country.Disclaimer: We donot claim that the images used as part of the news published are always owned by us. From time to time, we use images sourced as part of news or any related images or representations. Kindly take a look at our image usage policy on how we select the image that are used as part of the news.