Union Minister of Textiles Smriti Irani today told the industry her Ministry is actively considering to extend the benefits of special package to the made-ups and home textile segment, which had been excluded from its ambit.
"The Ministry is actively considering to extend the special package recently approved for the garment sector to be made-ups and home textile. An announcement for the same is likely to be made around Diwali," Irani said in her address after presenting Texprocil Awards here.
Irani appreciated the industry's efforts to remain leading exporter and assured all help to it from her Ministry.
She said Prime Minister Narendra Modi has a vision of doubling the income of farmers by 2022. "We are happy the farm yield has already increased and the country hopes to become a leading producer of cotton.
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The reimbursements of State and Central levies along with labour reforms will strengthen the textile sector by improving its cost competitiveness in the global market, he said.
Considering that textile is a low margin industry, introduction of such packages can lead to an exponential leap in export performance. This can be seen from the fact that in September 2016 export of garments showed a 12 per cent growth amid a downward trend in most other sectors, Dalmia said.
High and discriminatory import duties on textiles sourced from India in major markets like China and Turkey also pose a challenge, Dalmia said.
The hardening of cotton prices in the last few months is a matter of concern for the textile industry. It is necessary that a policy framework be put in place so that Indian manufacturers get raw materials at international prices or below at all times, he said.
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