Feedback Here

fbook  tweeter  linkin YouTube
Global contents also translated in Chinese

Home textile segment likely to be covered under special package

The made-ups and home textile segment is likely to be covered under the Rs 6,000-crores special package that was approved by the Union government for the garment sector, says Union textile minister, Smriti Irani. After presenting the Texprocil awards, the minister said that her Ministry was actively considering extending the benefits of special package to the made-ups and home textile segment which had been excluded from its ambit. The idea is to extend the special package recently approved for the garment sector to made-ups and home textile. An announcement is likely to be made around Diwali.

The made-ups and home textile segment is more labour intensive than the apparel sector and has the capability of generating sizeable new employment. At the same time it will act as a pull factor for increased consumption of fibre, yarns and fabric produced domestically, she went on to say. The minister appreciated the industry's efforts to remain the leading exporter and assured all help to it. Hinting at the prime minister’s vision of doubling the income of farmers by 2022, she averred that it was a matter of joy that the farm yield has already increased and the country hopes to become a leading producer of cotton.

Earlier, R K Dalmia, Chairman, The Cotton Textiles Export Promotion Council (Texprocil), said that the special package of Rs 6,000 crores for the apparel sector was a step in the right direction given the current scenario of world trade and international competitiveness. The reimbursements of State and Central levies along with labour reforms would strengthen the textile sector by improving its cost competitiveness in the global market, he said.

Considering that textile is a low margin industry, introduction of such packages can lead to an exponential leap in export performance. This can be seen from the fact that in September 2016 export of garments showed a 12 per cent growth amid a downward trend in most other sectors, Dalmia claimed.

 
LATEST TOP NEWS
 


 
MOST POPULAR NEWS
VF Logo