The Minister of State for Textiles, Shri E.V.K.S. Elangovan, informed the Lok Sabha, in a written reply to a question by Shri E.G. Sugavanam that the Government has revised the Duty Drawback and DEPB rates, which will benefit the textile sector.
The Government is aware of the problems being faced by the garment exports in the wake of appreciation of the rupee. As per reports received from Export Promotion Councils, Garment/Textile Industry has been adversely affected due to appreciation of rupee, he said.
Shri Elangovan further stated that during the eight years of operation of Technology Upgradation Fund Scheme (TUFS), differential level of benefits has been observed in different segments.
Certain segments like spinning and composite upgradation have benefited to the desired level leaving scope of focus in segments like processing, garments etc. The Scheme incorporates rationalisation in technical and financial norms, which are expected to:-
• induce capital investment in the textile sector to achieve growth parameters for fibre, yarn, fabric and garment production chain;
• help the textile sector capitalise on the vibrant and expanding global and domestic markets through technology upgradation resulting in cost effectiveness, quality production, efficiency and global competitiveness in line with the goals enumerated in the Vision Statement for Textile Industry (2007-2012);
• generate 16% annual growth and create additional capacity building in all the segments of the textile sector; and
• propel investment in the sector to the tune of Rs. 1,50,600 crore.
Press Information Bureau Government of India
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