The government has set a target of $100 billion for textiles and garment exports over the next five years, the textile ministry said on Thursday.
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The government said that, states having ready availability of contiguous and legal land parcel of 1000+ acres will be eligible to apply for the Prime Minister’s Mega Integrated Textile Region and Apparel (MITRA) parks.
The government has set a target of $100 billion for textiles and garment exports over the next five years, the textile ministry said on Thursday.
PM MITRA scheme is expected to bring fresh capital investment of $ 5.5-6.0 billion and in turn create export opportunities of around $ 4.5-5.0 billion p.a. for textile products once the scheme is fully implemented, according to a CARE Ratings report.
The government is planning a major revamp of its flagship incentive scheme for capital investments in the textile and garment sector to improve its performance.
Export orders for food, handicraft and readymade garments have risen at least 15% year-on-year owing to the upcoming festival season.
The government is planning a major revamp of its flagship incentive scheme for capital investments in the textile and garment sector to improve its performance.