Garment industry may witness exports rise
The Dollar Business Bureau The government’s recent initiatives to support India’s garment sector is expected to raise the country’s garment export to $20 billion during the current fiscal, said an industry official. Last week, the Cabinet had approved Rs.6000 crore for the textile and apparel sector with an aim to create one crore jobs in the sector and also to attract $11 billion investment. Clothing Manufacturers Association of India (CMAI) President Rahul Mehta said, “India's garment exports, estimated at $16.80 billion now, are expected to reach $20 billion during the current fiscal. The special package announced by the government will not only help in attracting large investments but also enhance production capacity.” Mehta also said the inclusion of the state-level taxes in calculation of the ...
