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The world’s most supportive govt initiatives for textiles empowerment

"Textile industry is an integral part of the global economy and the quality of life for citizens. Knowing the crucial impact it has on economy, it makes perfect sense for the government to offer the most lucrative policies towards its growth. Government initiatives are an excellent way to revitalise textile manufacturing, create jobs, promote the purchase and support of domestic textile and apparel products, and protect the livelihood and stability of the industry and economy."

 

 

The worlds most supportive govt initiatives for textiles empowerment

 

Textile industry is an integral part of the global economy and the quality of life for citizens. Knowing the crucial impact it has on economy, it makes perfect sense for the government to offer the most lucrative policies towards its growth. Government initiatives are an excellent way to revitalise textile manufacturing, create jobs, promote the purchase and support of domestic textile and apparel products, and protect the livelihood and stability of the industry and economy. Here is a look at some of the most lucrative and supportive government initiatives taken across the globe to boost growth of textile industry:

Nigeria

The worlds most supportive govt initiatives textiles

 

In February 2017, the Nigerian government announced the allocation of $162 million for revitalisation and recovery of domestic textile industry. These funds will be routed towards stimulating growth in the industry, creating jobs, encouraging the purchase of locally-made textiles and clothing, and combating the threats of counterfeit and smuggled textile goods. The allocation will also be used to improve infrastructure, especially access to electricity, which is key for textile manufacturers. It is also expected to help increase cotton production and quality.

India

The New National Textile Policy, announced in 2016 by the NDA government, is a package worth $894 million. This package supports labour reforms in relevant sectors such as yarns, made-ups, and fabrics, and is expected to help the textile industry in India outpace competitors like Bangladesh and Vietnam. It will increase textile exports and is expected to create millions of new jobs. India’s Make in India initiative, which promotes job creation and manufacturing within India, will also help to boost the success and growth of India’s textile industry.

Malaysia

Malaysia’s Third Industrial Master Plan, which will be in effect until 2020, is encouraging the growth of the textile industry. The plan focuses on the growth of industrial and home textiles, functional fabrics, high-end fabrics and garments, and the establishment and improvement of support facilities and services like design houses, fashion centres, and specialised dyeing and finishing facilities.

The USA

Last year, former US President Barack Obama announced the establishment of a new fibres and textiles manufacturing innovation hub in Cambridge, Massachusetts, and more than $2 billion in manufacturing research and development investments. The Revolutionary Fibers and Textiles Manufacturing Innovation Institute is combining $75 billion in federal resources and USD 250 million in non-federal investments to research and produce innovative textiles with novel properties. This initiative is creating textile industry jobs, continuing the promotion of the industry’s recovery from its decline in the 2000s, and promoting domestic textile printing, textile manufacturing, and textile manufacturers.

 
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