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New National Textile Policy to have package for home textiles

YarnsandFibers News Bureau 2016-07-05 11:15:00 – Mumbai

The new National Textile Policy will soon be placed before the Cabinet seeking approval, the policy contains a package to boost job creation and promotion of made-ups for the home textile sector, on the lines of the one which was extended to the apparel industry.

Textile Secretary Rashmi Verma at a Texprcial event in Mumbai, said that the draft textile policy will be soon placed before the Cabinet and the home textile sector can also look forward to a package similar to what is extended to the apparel sector.

Besides, the government has already started the process of reviewing the existing free trade agreements (FTAs) and is also seriously negotiating the FTAs with EU, Australia and Canada.

On Brexit issue, Verma said the time is right for India to sign a separate bilateral agreement with the Great Britain and the process for starting a dialogue is already on.

The government last month already approved a Rs 6,000-crore special package for textiles and apparel sector to create one crore new jobs in 3 years, attracting investments of USD 11 billion and generating additional USD 30 billion in exports.

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