New Delhi, June 23 (KNN) The incentives that have been announced for the textile sector yesterday has been welcomed, said Commerce & Industry Minister Nirmala Sitharaman adding that to further boost the sector India is in talks in the European Union over Free Trade Agreement (FTA).

The Minister of State (Independent Charge) for Commerce and Industry, Sitharaman, in a reply to question from KNN, said that India is in talks with EU over the FTA.

She said, “EU has not given a date to India and it is my doubt if because they are waiting for the outcome of Brexit.”

“The moment they give the dates we would keenly want to continue the talks to reach a conclusion at the earliest but the package which is announced yesterday will help the textile sector. Even otherwise we will negotiate the FTA as and when the dates come,” she added.

The government yesterday announced Rs. 6,000-crore package for the textiles and apparels sector to help it wrest a bigger share of the global market. The package also provides the sector more flexible labour laws and financial incentives. It hopes the package will create one crore new jobs in three years, attract Rs. 74,000 crore in investment and generate $30 billion in exports earnings.

Minister further explained that the Incentives announced yesterday are very welcomed.

“It is announced for the sector which has great potential for job creation. It’s a sector where India had already gained a lot of advantage but because of the other global developments we are now position to give that extra push which I am glad that the Government has taken a call,” Sitharaman added.  (KNN/ AR)