Govt to announces package for knitwear industry soon

YarnsandFibers News Bureau 2017-06-20 14:00:00 – New Delhi

Government in order to provide a level playing field to the knitwear industry will announcing a package for the country’s knitwear sector in the next two months. As the knitwear industry is facing tough competition from countries like China owing to factors like lower automation and lack of technology Upgradation.

Secretary in the textiles ministry Anant Kumar said that they met stakeholders on a package for the knitwear sector on June 5 and held consultations on the draft scheme.

They will give a shape to their suggestions and decide on the size of the package. They will announce the package guidelines in two months’ time.

The government in June 2016 had approved a Rs 6,006 crore special package for textiles and apparel sector to create 1 crore new jobs in three years, attracting investments of $11 billion and generating $30 billion in export. In December, it included the made-ups segment comprising pillows, cushions, etc. in the Rs 6,006-crore package.

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