Goods and Services Tax – GST Dated:- 13-7-2019 – News – Export of apparel (in pairs) has shown an increase of 16% from 116 million units in 2016-17 to 157 million units in 2018-19. Export of total textiles and clothing has shown an increase of 2.7% from 35,666 US million dollars in 2017-18 to 36, 627 US million dollars in 2018-19. Government has been taking multi-pronged efforts through various schemes/programmes for expansion of textile manufacturing, infrastructure development, upgradation of technology, supporting innovation, enhancing skills and traditional strengths in the textile sector that lead to improvement in textile sector in the country including in Tiruppur. The schemes and programmes include: A separat
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ise Exports from India Scheme (MEIS) have been enhanced from 2% to 4% for garment and made-ups, 5% to 7% for handloom and handicrafts w.e.f. 1st November 2017. Products such as fibre, yarn and fabric in the textile value chain are being strengthened and made competitive through various schemes, inter alia, Powertex for fabric segment, ATUFS for all segments except spinning, Scheme for Integrated Textile Parks (SITP) for all segments, etc. Assistance is also provided to exporters under Market Access Initiative (MAI) Scheme. Government has enhanced interest equalization rate for pre and post shipment credit for exports done by MSMEs of textile sector from 3% to 5% from 02.11.2018. Benefit of Interest Equalization Scheme has been extended to m
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for Capacity Building , to train 10 lakh youth for a period of three years from 2017-18 to 2019-20, at an estimated cost of ₹ 1300 crore. Apart from the aforesaid programmes, Government has been implementing various schemes for promoting investment, production, employment generation and for boosting exports in the textile sector. These include PowerTex India Scheme – for Powerloom Sector Development, Silk Samagra- the integrated silk development scheme, Integrated Processing Development Scheme (IPDS), North Eastern Region Textile Promotion Scheme (NERTPS), Incentive Scheme for Acquisition of Plants and Machinery (ISAPM) for Jute Industry and Jute Diversified Products Manufacturing Units, NHDS for handloom and handicraf
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