INITIATIVES TAKEN BY THE GOVERNMENT FOR TEXTILE

MAJOR INITIATIVES TAKEN BY THE GOVERNMENT TO INCREASE THE COMPETITIVENESS OF INDIA'S TEXTILE INDUSTRY


(a) Fiscal Reforms

In the last two Union Budgets, the fiscal duty structure has been rationalized by doing away with the multiplicity of taxes, reduction in excise and customs duty, and by providing relief from maintaining excessive records under excise procedures

(b) Technology Mission on Cotton (TMC)
Indian textile industry is predominantly cotton based. Technology Mission on Cotton (TMC) was launched to make available quality raw material at competitive price. The progress of TMC has been very satisfactory

(c) Technology Up gradation Fund Scheme (TUFS)
The Technology Upgradation Fund Scheme for Handloom Sector has been launched on 31st July, 2006 under which Capital Subsidy upto Rs. 20 lakhs can be given for pre-loom/loom/post-loom technology upgradation.

(d) Scheme for Integrated Textile Park (SITP)
The main purpose of introduction of SITP is to provide the industry with world class infrastructure facilities for setting up their textile units. This scheme is based on Public Private Partnership model and envisages engaging of a professional agency for project execution