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Related Keywords: huge opportunity for skilling, increase export, Make in India vision, New national textile policy, portfolio of great importance to rural economy of the nation, Prime Minister Narendra Modi shows faith in her capabilities, skill development, Smriti Irani takes charge of Textiles Ministry, textile sector

Smriti Irani takes charge of Textiles Ministry as Prime Minister Narendra Modi shows faith in her capabilities. She thanked Prime Minister for allocating her a portfolio which is of great importance to the rural economy of the nation.

Smriti said that she was happy to have been given an opportunity in the textile sector especially when a special package (of Rs 6,000 crore for the apparel segment) has been announced for the sector.

She is hopeful that the much-awaited new national textile policy "will soon see the light of day".

Related Keywords: governments plans to grow the size, Make in India, Man made fiber based textile sector, meager share in market, need more investment, research and development, skill development, textile and apparel industry

The Man made fiber (MMF) based textile sector that presently has meager 2.2 percent share in the market needs more investment to help government's ambitious plans to grow the size of the segment from USD 110 billion to USD 400 billion in the next few years.

Related Keywords: brand promotion, CCI Texcon 2015, focus on economies of scale, government need to aggressively enter into FTAs. safeguard Indian textile and apparel industry, India can increase global share, infrastructure, Make in India possible, reduce the finance cost and ease the land and environment clearances, skill development, technology development

A report was released by CII and Wazir Advisors at the CII Texcon 2015 here on Thursday, on how to enable ‘Make in India’ possible in textile and apparel sector. The report highlighted that the TPP trade agreement will open markets and enable countries like Vietnam a zero duty access to the US market for textile, while Indian players will have to pay 14-32% duties, which will make them uncompetitive.

Related Keywords: Andhra Pradesh State Skill Development Corporation, apparel training and design centre, ATDC offer specific vocational training programs, ATDC to set up training centre, signed MoU, skill development, support of NSL Textiles, textile and garment sector

Apparel Training and Design Centre (ATDC) signed an MOU with Andhra Pradesh State Skill Development Corporation (APSSDC) for skill development in textile and garment sector. The MoU has been signed initially for a period of 2 Years and it aims at imparting employment oriented training and encourages entrepreneurship through Skill Development to the youth & women.

Related Keywords: cost of credit, India self sufficient in textile, Interest Subvention Scheme, LSI, mega texile projects, Planning Commission, reduce interest rate, skill development, textile export, total foreign exchange receipts, TUF refunds, Welspun Chairman, world textile market

India is self-sufficient in textiles as the textile industry is one of the major contributors for India’s export basket contributing 12% of India’s total foreign exchange receipts and is not dependent on imports. This was projected by then Planning Commission that Textile exports will grow by 12% in coming years. In light of this, it becomes necessary to encourage textile exports, said B K Goenka, Chairman of Welspun.

Related Keywords: CUTM, handloom products, IDCO, incubation centre, Integrated textile park, manufacturing textile, NIFT, skill development, state of Odisha, technology upgradation

The Government has decided to develop an integrated textile park during the current plan period and set up an incubation centre in the campus of National Institute of Fashion Technology (NIFT) to provide common services and facilities required for manufacturing textile and handloom products.

The decision was taken recently when Union Secretary of Textiles Sanjay Kumar Panda was on a visit to the State of Odisha.