COIMBATORE, DECEMBER 8: Textile industry associations have hailed the Centre’s announcement of a special package for the made-ups sector.
The package includes 10 per cent enhanced subsidy under Technology Upgradation Fund Scheme, extension of Pradhan Mantri Paridhan Rozgar Protsahan Yojana Scheme for providing additional 3.67 per cent share of employer’s contribution in addition to 8.33 per cent already covered under PMRPY for all new employees enrolling in EPFO for the first three years of their employment, rebate of state levies, relaxed labour norms etc. Industry sources said these interventions would help boost exports and create 11 lakh jobs in the next three years. “We are confident that with the continuous focus and support from the Centre, the industry would be able to create more jobs for the rural youth and women. The growth of the made ups sector is directly linked to the Indian SME weaving sector. Many weaving clusters can grow and upgrade technologically,” said Prabhu Dhamodharan, Secretary, Indian Texpreneurs' Federation.
M Senthilkumar, Chairman of the Southern India Mills’ Association, said the intervention would greatly help the made-ups segment to improve its global competitiveness and create more demand for fabrics, yarn and fibre in the domestic market.
The SIMA chief appealed for extension of the 2 per cent MES and 3 per cent IES benefit on cotton yarn export – a long-pending demand of the spinning sector. “This can be extended as an interim package till the supply-demand gap is bridged,” he added.
Ujwal Lahoti, Chairman of the Cotton Textiles Export Promotion Council (Texprocil), said the timely announcement has come as a huge relief to the exporters of made-ups, especially at a juncture when the sector is passing through a difficult phase as their products face duty disadvantage in the main market of the European Union.
Source: thehindubusinessline.com