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Boost for Indian textiles and apparel sector

23/06/2016
The Indian government has approved a special package of investment worth Rs 6,000 crore ($891 million) for the country’s textiles and apparel sector. The package aims to create 10,000,000 jobs in three years, attract $11 billion of investment and generate $30 billion in exports.

The measures approved include flexibility in labour laws to increase productivity and tax and production incentives for companies who create jobs in garment manufacturing. Subsidies will only be paid to companies once they can prove they have created employment opportunities. With women making up 70% of the workforce in India’s garment industry, the government hopes the package will contribute to the empowerment of women.

“The package will help in realising the true potential of the employment generation in the textile and apparel sector,” said finance minister Arun Jaitley.

Rashmi Verma, India’s textiles secretary predicted that that the country would “overtake Vietnam and Bangladesh in garment exports within the next three years” if the package is correctly implemented.

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India’s garment sector harmed by lack of FTAs 05/07/2016
India targeting $50 billion textiles and apparel exports 04/07/2016
India’s textile minister positive for future of sector 14/06/2016
Project targets empowerment of Sri Lanka’s women 10/06/2016
India inaugurates latest garment centre 06/06/2016
South Asia apparel exports to US on the rise 09/05/2016
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