Indian government announced that the Govt's initiatives will promote Indian textiles in International markets.
The Centre has been taking a number of steps from time to time to increase India's share of the international textile markets. Some of the important initiatives taken are given as under:-
- 100 percent Foreign Direct Investment is allowed in the textile sector under the automatic route.
- The Government has de-reserved the readymade garments, hosiery and knitwear from the SSI sector.
- The Technology Upgradation Fund Scheme (TUFS) facilitates the modernization and upgradation of the sector.
- To improve the productivity and quality of cotton, the Government has launched the Technology Mission on Cotton (TMC). Under this, Incentives are provided for better farm practices, quality seeds, improvement in market infrastructure and modernization of ginning & pressing sector.
- To provide the industry with world class infrastructure facilities for setting up their textile units, a new scheme namely, 'Scheme for Integrated Textile Parks' has been launched by merging existing two schemes i.e. Textile Centres Infrastructure Development Scheme (TCIDS) and Apparel Park for Exports Scheme (APES). The Govt. of India's support under the scheme, by way of grant or equity is limited to 40% of the project cost, subject to a ceiling of Rs.40 crores.
- The 'Apparel Park for Exports Scheme (APES)' was launched with the objective of imparting a focused thrust for setting up apparel units of international standards at potential growth centres, and to give a fillip to exports. Under APES, 12 projects have been sanctioned with an estimated support from Government of India to the tune of Rs.191.70 crores.
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