“We are very thankful to the Prime Minister, Textiles Minister, and all concerned authorities for this much-awaited step that is another excellent testimony of the government’s strong commitment to the growth of India’s textile and apparel sector and would greatly benefit all industry players, especially those that fall in the MSME category,” CITI chairman Ashwin Chandran said in a release.
“Once operational, the TEX-RAMPS will contribute significantly to raising the global competitiveness of the Indian textile and apparel sector by strengthening the innovation ecosystem, promoting the rise of more promising startups, and making the quality culture take deeper roots in the sector,” Chandran added.
The CITI chairman said the Scheme, being in place for 6 years, would ensure that companies could plan better on how to leverage it for their operations. “CITI will be working closely with the government to promote the benefits of the Scheme to industry,” Chandran said.
ALCHEMPro News Desk (KD)
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