Textile exports not up to mark: Cloth merchants body
Sharath Chowdary India’s textile exports have come down to $40 billion in FY 2016, when compared to $41.4 billion exports in FY 2015. The textile shipments are far below the target set by the Union Textile Ministry at $47.5 billion for the previous fiscal year. Even then, the ministry has taken it up as a challenge to achieve $48.5 billion exports this fiscal year. The Union Cabinet has recently approved Rs.6000-crore special package for the promotion of exports in Textile and Apparel sector. With this package, the government plans to achieve a cumulative increase of textile exports to $30 billion in the next three years. To achieve this ambitious target, the government should encourage the new manufacturers, Telangana Cloth Merchants Association President Ammanabolu ...
Govt clears new tech fund scheme for textile sector
The Dollar Business Bureau The textile ministry has said it will set up offices of textile commissioner (TXC) in each state to facilitate entrepreneurs in setting up businesses The government on Wednesday approved the amended Technology Upgradation Fund Scheme (ATUFS) that aims to generate investments worth Rs.1 lakh crore in textile sector under Make in India programme. The new scheme has been introduced to encourage domestic apparel and garment exporters in order to increase India’s share in global textile exports. “The amended scheme would give a boost to “Make in India” in the textile sector. It is expected to attract investment to the tune of one lakh crore rupees, and create over 30 lakh jobs,” Ministry of Textiles said in ...
