The government has set a $45 billion exports target from the country’s textile and garment sector for the year of 2017-18 which is lower than the $48 billion set for the last fiscal.

The country’s overall textiles and garments exports stood at $40 billion during 2015-16, mainly because of less demand in major markets such as the US, EU and China, and stiff competition it faced from countries like Vietnam and Bangladesh, which enjoy an edge over India.
The top official said, “We have set a target of $45 billion for textiles and garment exports in the current fiscal.”

Besides, the Textiles ministry has a plan to unveil a package for the knitwear sector, which is grappling with enormous financial stress owing to short of automation leading to much lower productivity than countries like China.

While addressing a press conference, Union Textiles Minister Smriti Irani said, “We will announce a big package for the knitwear industry which is facing several challenges in the next one month or so.”
However, Irani did not provide a timeline for the unveiling of the much-awaited new National Textiles Policy.

She also said that we have held roadshows in six countries including US, UK, Russia, China, UAE and South Korea for attracting the industry and potential investors for the textile India event which is going to be inaugurated by Prime Minister Narendra Modi in Gandhinagar on June 30.

The three-day mega event plans to showcase India as a global sourcing hub and will be attended by several Union ministers including Finance Minister Arun Jaitley and Irani, and provide a platform to connect and collaborate with global manufacturers, investors and buyers in the textiles sector.

Irani replied on the question about violation of norms by some special purpose vehicles operating in textile parks and a report commissioned by the textiles ministry concluding that the Scheme for Integrated Textile Parks (SITP) has failed to achieve its objectives, if violations come to light, that, “the office of the Textiles Commissioner takes positive or punitive steps to ensure that there is no anomaly or transgression”.

She said the Textiles Commissioner’s Office has confirmed that around Rs 3,000 crore have been approved as additional investments in the apparel segment, which will generate more employment in the entire sector.

The government in June 2016 had approved an Rs 6,006 crore special package for textiles and apparel sector to create one crore new jobs in 3 years, attracting investments of $11 billion and generating $30 billion in Exports.

The minister informed that funds to the tune of over Rs 1,900 crore have been given to the apparel industry under the rebate of state levies to boost exports from the sector.

Besides, she said under the Pradhan Mantri Paridhan Rozgar Protsahan Yojana, over 1.4 lakh workers have registered themselves for provident fund.

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