Union Textiles Minister Santosh Kumar Gangwar said that New National Textile Policy is to be issued before the end of April, 2016 during the budget session of the Lok Sabha.
The new policy sets a target to achieve $300 billion (nearly Rs 20.50 lakh crore) textile exports by 2024-25 and generate employment opportunities with an additional 35 million jobs.
The policy is expected to accommodate a series of reforms to make India a truly manufacturing hub in textiles sectors so that Indian textiles players can take maximum advantages of the slowdown in Chinese textiles industry.
There would be amendments to the labour law, under the new policy, allowing women to work at night and other concerns related to skilled workforce, labour reforms, attracting investments in the textile sector would be addressed.
The government is also looking into special incentives for manufacturing units to be set up in the Northeast, Bihar, Jharkhand and West Bengal, where the cost of production would work out to be lower than in Maharashtra and Gujarat, where most of the factories are located.
Gangwar said that government is also planning to set up 74 textile parks, which will attract an investment of Rs 30,000 crore.
Fulgar is strengthening its dedication to sustainable textile solutions by unveiling new advancements beyond fabrics by collaborating with Nyguard.
The Lycra Company, a global leader in innovative and sustainable fibre solutions, is presenting its bio-derived Lycra EcoMade fibre at…
Kudro Kids, a recently launched small-batch denim brand founded by Rebecca Ford, focuses on sustainability and offers gender-neutral denim for…
An innovative washable touchless technology now allows users to interact with textiles and apparel simply by pointing a finger over…
Technosport has partnered with textile machinery manufacturer Karl Mayer to enhance its production capabilities using cutting-edge Tricot machines.
The Department of Science and Technology has partnered with Bayo Manila Inc. under the DOST CRADLE Program to launch the…