Government is formulating a New Textile Policy for overall development of the sector. Inputs from all the state governments, individuals through e-portal and different associations are being solicited under broad topics like cotton, silk, jute, wool, man-made fibre, handloom, handicrafts, powerloom, technical textiles, technology & machinery upgradation, infrastructure (spinning, weaving & processing) and human resource development.
Govt. is implementing Amended Technology Up-gradation Fund Scheme (ATUFS) for technology up-gradation of the textile industry to incentivize production with an outlay of Rs.17,822 crore during 2016-2022, statement said.
It is expected to attract investment of Rs.1 lakh crore and generate 35.62 lakhs employment in the textile sector by 2022.
Over a period of time, textile industry is facing some problems like technological obsolesce, high input cost (power & capital), poor access to credit, fragmented units, absence of fiber neutrality etc. In order to address these issues/problems, Govt. has implemented various schemes to provide support to Textiles & Apparel Sector:-
Government has launched a special package of Rs.6000 crore in 2016 to boost investment, employment and exports in the garmenting and made-ups sector with the following components viz., (i) full refund is provided under Remission of State Levies (ROSL) to the exporters for the State level taxes; (ii) production linked additional incentive of 10% is provided under the Amended Technology Up-gradation Fund Scheme (ATUFS).
The Government is implementing the Scheme for Integrated Textile Park (SITP) which provides support for creation of world-class infrastructure facilities for setting up of textile units. Till date, 56 textile parks have been sanctioned under SITP which are under various stages of implementation, Govt. said.
India CSR offers strategic corporate outreach opportunities to amplify your brand’s CSR, Sustainability, and ESG success stories.
📩 Contact us at: biz@indiacsr.in
Let’s collaborate to amplify your brand’s impact in the CSR and ESG ecosystem.
