New Textile Policy is at draft stage: Smriti Irani
Ministry of Textiles is contemplating a New Textile Policy. At present, New Textile Policy has not been finalised and it is at draft stage.
Ministry of Textiles is contemplating a New Textile Policy. At present,
New Textile Policy has not been finalised and it is at draft stage. The New
Textile Policy inter alia, will give thrust on enhancing export performance and
creating better employment opportunities. The New Textile Policy is being
formulated by holding widespread consultations with various associations,
industry bodies, state governments and other stakeholders representing
subsectors viz. cotton, silk, jute wool, handloom, handicrafts, powerloom etc.
Government is considering promotion of MMF and Technical Textile under
Production Linked Incentive (PLI) scheme. The formulation of Focus Product
Incentive Scheme (FPIS) under the ambit of Production Linked Incentive (PLI)
Scheme is in process. The objective of the FPIS would be creating global
champions in MMF apparel and Technical Textiles and capturing substantial share
in global trade in these segments. The scheme will provide incentive from 3 to
15 per cent on stipulated incremental turnover for a period of five years after
one year gestation period for brownfield investment and two years gestation
period for greenfield investment.
In the budget 2021-22, it has been announced that a Mega Integrated
Textile Regions and Parks scheme (MITRA) will be launched, with an aim to
attract large investment and employment generation in the sector to further
boost domestic manufacturing and to create world class infrastructure at one
place with plug & play facilities. It will enable textile industry to achieve
size and scale so as to become globally competitive and also create global
champions in exports. Under the scheme, 7 Mega Textile Parks will be established
over 3 years.
This information was given in a written reply by the Union Minister of Textiles,
Smriti Zubin Irani in Lok Sabha recently.