Related Keywords: Amended-Technology Upgradation Fund Scheme, attract investment, bring in flexibility in labour laws, Chinese textile and apparel industry, cleared special package for textile and apparel sector, create million new jobs, deal with rising competition, Fixed term employment, generate exports, increase subsidy, Union Cabinet
The Union Cabinet on Wednesday cleared a Rs 6,000 crore special package for the textiles and apparel sector with an aim to deal with the rising competition from China’s textile and apparel industry. The move, according to the government, would create 10 million new jobs in the next three years, in addition attracting investments of $11 billion and generating $30 billion in exports. The decision was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi.
