Union Budget 2021-22 announcements include the launch of the scheme of setting up mega-investment textile parks. Seven mega textile parks will be set up in the next three years. These parks will enable the textile industry to become globally competitive, attract large investment and boost employment generation. The scheme will enable the creation of global champions in exports.
The Production Linked Investment scheme of Rs 10,683/- crore over a five year period covering MMF and Technical Textiles sector has been announced which will create global champions in exports and domestic production in the textile sector will also grow substantially.
The government of India is also implementing a number of schemes for the promotion of the textile sector. These include Amended Technology Upgradation Fund Scheme (A-TUFS), Schemes for the development of the Powerloom Sector(Power-Tex), Schemes for Technical Textiles, Scheme for Integrated Textile Parks (SITP), Scheme for Additional Grant for Apparel Manufacturing Units under SITP (SAGAM), SAMARTH- The Scheme for Capacity Building in Textile Sector (SCBTS), Jute (ICARE- Improved Cultivation and Advanced Retting Exercise), Integrated Processing Development Scheme (IPDS), Silk Samagra, National Handloom Development Programme, National Handicraft Development Programme, Integrated Wool Development Programme (IWDP), North-East Region Textiles Promotion Scheme (NERTPS), Rebate of State and Central Taxes and Levies (ROSCTL), Scheme for Production and Employment Linked Support for Garmenting Units (SPELSGU) etc.
Follow IBTN9
Facebook:
Instagram:
