India is rolling out initiatives for the textile sector. One such is the India-specific apparel sizing which will help in taking policy decisions for the growth of the domestic industry. Embedded duties will be refunded fully and no tax will be imposed on exports.
India’s apparel and textile industry is being supported through the Amended Technology Upgradation Fund Scheme, the Scheme for Integrated Textile Parks, the Integrated Skill Development Scheme and other such schemes.
The special incentives for the textile and apparel sector will enable the establishment of larger manufacturing set-ups thereby leading to economies of scale for executing larger orders resulting in the enhancement of India’s share in global textile and apparel exports. Since 2014, Rs 35,000 crores have been invested in the textile and apparel sector.
India exports textile and apparel to all countries including China. The recovery in the US economy has given a boost to India’s textile and apparel exports. With a continuous growth in US economy, India’s textile and apparel export growth is expected to continue. India’s share in world trade in textile and clothing is estimated to be 4.95 per cent.
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