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Special Article

Package for Textile Industry will Boost Employment FICCI

The government has recently announced a Rs 6,000-crore package for the textiles and apparels sector to help it wrest a bigger share of the global market. The package also provides the sector more flexible labour laws and financial incentives. It hopes the package will create one crore new jobs in three years, attract Rs 74,000 crore in investment and generate $30 billion in exports earnings. 

"The package will help in realising the true potential of employment generation in the textile and apparel sector," Finance Minister Mr. Arun Jaitley said at a briefing on the Cabinet decision. The thrust of the package is to make this labour-intensive industry cost competitive and achieve economies of scale, which can help it corner a bigger share of the global market. "We will overtake Vietnam and Bangladesh in garment exports within next three years if we properly implement the package," Textiles Secretary Ms. Rashmi Verma said. 

Commenting on the Cabinet’s approval for a special package for employment generation and promotion of exports in Textile and Apparel sector, FICCI Textiles Committee Chairman, Shishir Jaipuria said that the committee welcomes the special package which addresses the issues of textiles industry holistically.

India's textiles and apparel exports add up to about $40 billion. India has not been able to take advantage of rising wages in China to get a bigger share of the exports market despite having abundant labour and entire value chain of fibre to fabric. 

“This is timely and would provide a much needed impetus to the value addition and employment in the country,” added Jaipuria.

He further added that the proposal to provide flexibility to the garment industry, which is seasonal in nature under various labor laws, would help the industry to meet their orders timely and be competitive too.

“This would attract large investments and create more job opportunities especially for the women in the sector” he added.

He further stated, “As the Indian textiles and garment industry is facing tough competition in the global market, the refund of State levies come as a breather and would help them gain more competitiveness in global markets where we have to compete with other countries that enjoy duty free regime.”

FICCI added that such a package could also be extended to made-up sector that is high employment generating sector and also a value added segment of the textiles value chain.


 Features: EN Team