Power loom woven fabrics account 60% Of India’s exports
The power loom sector contributes nearly 58.4 % to total cloth production in the country. More than 60% of fabric meant for export is also sourced from the power loom sector.
India
The power loom sector contributes nearly 58.4 % to total cloth production in the country. More than 60% of fabric meant for export is also sourced from the power loom sector.
The Government has taken the following major initiatives/ measures in the textile sector to boost exports on a pan-India basis and to make the textile sector globally competitive:
The Government has approved the setting up of Seven PM MITRA Parks in Greenfield/Brownfield sites for a period of seven years up to 2027-28. The Scheme would lead to the creation of a modern, integrated large-scale, world-class industrial infrastructure including plug and play facilities. These parks will enable the textile industry to become globally competitive, attract large investments and boost employment generation.
The scheme of Rebate of State and central Taxes and Levies (RoSCTL) effective from March 2019 has been continued till 31st March 2024 for Exports of Apparel / Garments and made-ups in order to make the textile sector competitive in the international market.
The Government has approved the Production Linked Incentive (PLI) Scheme for Textiles to promote the production of Man-Made Fiber (MMF) Apparel, MMF Fabrics, and Products of Technical Textiles in the country to enable the Textile sector to achieve size and scale and to become competitive.
To boost exports in the Man-Made Fibre (MMF) sector, the Government has removed anti-dumping duty on PTA (Purified Terephthalic Acid), Viscose Staple Fibre, and Acrylic.
Source: SME Times
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