Special package for knitwear in 2 months!

The knitwear sector of India will get a special package in about two months’ time, according to a government official. The industry can expect the package to ensure a level-playing field, considering it faces tough competition from various countries like China due to lack of technology upgrades. The Government has already been working on the package.

The Government representatives had met stakeholders for the knitwear package on June 5 to hold consultations on the package’s draft scheme. The suggestions will be taken into account to determine the size of the package. The guidelines for the same will be announced in the next two months, said Anant Kumar, Secretary, Ministry of Textiles.

Union Textiles Minister Smriti Irani had said during a press briefing last month that the Government is currently working on package that will help the knitwear sector cope with challenges it is facing.