Textile Industry generates direct employment to over 35 mn
Updated: Feb 22, 2014 03:39:08pm
New Delhi, Feb 22 (KNN) The contribution of the textile industry in terms of percentage to industrial production and export earnings is constant at 12 per cent during the last three years and current year. It has generated direct employment to over 35 million people.
In order to increase the employment in the textile industry, the government has launched various schemes namely integrated Skill Development Scheme (ISDS) and Scheme for Integrated Textile Parks (SITP). The role of the Government is to ensure conducive policy environment and encourage investment.
Further, the government has taken various steps and launched schemes such as Technology Upgradation Fund Scheme (TUFS), SITP, ISDS, etc towards encouraging and catalyzing investment in the sector.
For modernisaton of weaving sector, subsidies (both interest reimbursement (IR) and Capital subsidy (CS) have been increased from 5 per cent to 6 per cent and 10 per cent to 15 per cent respectively.
In addition, margin money subsidy has been increased from 20 per cent to 30 per cent in TUFS. Integrated Processing Development Scheme (IPDS) with a budget outlay of Rs.500 crores has been approved for modernisation of processing sector.
During the second quarter of the current financial year, the textile sector has added to 66,000 jobs. In fact, 62 per cent of total jobs created in the sector were contributed by the exporting units. Exporters gave jobs to 41,000 people.
Textile sector was one of the few sectors showing a growth in the index of the industrial production figures. As per the latest official figures, while total industrial production contracted to 0.21 per cent in April-November, Textile sector output rose to 3.7 per cent.
There is no shortage of cotton /yarn in the country to meet the requirement of domestic textile industry. For the current cotton season 2013-14 (October-September) there is an estimated total availability of cotton at 427 lakh bales against the total estimated demand at 387 lakh bales which is adequate to meet the requirement of textile industry.
To encourage exports including export of processed clothes, incentives are available under the Foreign Trade Policy namely Interest subvention , Market Access Initiative(MAI), Market Development Assistance (MDA) Schemes and Focus Market and Focus Product Schemes.
The Ministry of Textiles has adopted a four pronged strategy for Textiles exports namely larger textiles trade shows, skill development initiatives, compliance programmes and duty drawback schemes. A provision of Rs 500 crore has been made in the 12th plan for introducing a scheme for Integrated Processing Development. (KNN/PIB)
In order to increase the employment in the textile industry, the government has launched various schemes namely integrated Skill Development Scheme (ISDS) and Scheme for Integrated Textile Parks (SITP). The role of the Government is to ensure conducive policy environment and encourage investment.
Further, the government has taken various steps and launched schemes such as Technology Upgradation Fund Scheme (TUFS), SITP, ISDS, etc towards encouraging and catalyzing investment in the sector.
For modernisaton of weaving sector, subsidies (both interest reimbursement (IR) and Capital subsidy (CS) have been increased from 5 per cent to 6 per cent and 10 per cent to 15 per cent respectively.
In addition, margin money subsidy has been increased from 20 per cent to 30 per cent in TUFS. Integrated Processing Development Scheme (IPDS) with a budget outlay of Rs.500 crores has been approved for modernisation of processing sector.
During the second quarter of the current financial year, the textile sector has added to 66,000 jobs. In fact, 62 per cent of total jobs created in the sector were contributed by the exporting units. Exporters gave jobs to 41,000 people.
Textile sector was one of the few sectors showing a growth in the index of the industrial production figures. As per the latest official figures, while total industrial production contracted to 0.21 per cent in April-November, Textile sector output rose to 3.7 per cent.
There is no shortage of cotton /yarn in the country to meet the requirement of domestic textile industry. For the current cotton season 2013-14 (October-September) there is an estimated total availability of cotton at 427 lakh bales against the total estimated demand at 387 lakh bales which is adequate to meet the requirement of textile industry.
To encourage exports including export of processed clothes, incentives are available under the Foreign Trade Policy namely Interest subvention , Market Access Initiative(MAI), Market Development Assistance (MDA) Schemes and Focus Market and Focus Product Schemes.
The Ministry of Textiles has adopted a four pronged strategy for Textiles exports namely larger textiles trade shows, skill development initiatives, compliance programmes and duty drawback schemes. A provision of Rs 500 crore has been made in the 12th plan for introducing a scheme for Integrated Processing Development. (KNN/PIB)
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