Jul 22, 2022Share
Although India has a rich heritage and a recognized place in history as one of the earliest civilizations, the textile industry in recent times has not matched its full potential. Below are some of the initiatives and policies taken by the government for export promotion and growth of the textile industry.
1) Agreements with many countries on export and active leadership in the WTO forum.
2) Export promotion policies and textile SEX zones
3) Allowing foreign direct investment in the textile sector
4) Mandatory packaging in jute for food grains and sugar
5) Skill development schools and favorable investment and tax climate
6) Integrated program for development of wool, key agreements with institutions and other measures to foster innovation and growth mindset.
7) Setting up integrated textile parks, technology upgradation fund schemes
8) Improving connectivity and infrastructure
9) Diversification of exports
10) Uniform GST slab implementation
With these above policies, it is definite that the textile sector, industry and all associated parties will benefit. After all, a rising tide lifts all boats.
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