2018 witnessed lots of ups and downs throughout the year in the apparel industry. The government came up with many new policies and amended the existing ones in a bid to move towards the betterment of the global apparel industry. We have picked up the top policy related stories that created a buzz during the year.
5 lakh jobs created in India’s garments, made-ups segments
The Union Textile Commissioner, Kavita Gupta announced that 2.5 lakh jobs were created in the past couple of years, which will help the industry to double-up the revenue from apparel and made-up segments.
Read full story here: https://apparelresources.com/business-news/policy/2-5-lakh-jobs-created-indias-garments-made-ups-segments/
India approves Rs. 2,161 cr for silk industry development
In a bid to support the sericulture industry in India, the Cabinet Committee on Economic Affairs approved a budget allocation of Rs. 2,161.68 crores for the implementation of the scheme named “Integrated Scheme for Development of Silk Industry.”
India upgrades 2.16 lakh power looms under In-Situ Upgradation scheme
Minister of State of Textiles, Ajay Tamta affirmed the Rajya Sabha that at least 2.16 lakh powerloom units in India have been upgraded under the In-Situ Upgradation scheme, which was announced by the government.
Read full story here: https://apparelresources.com/business-news/policy/india-upgrades-2-16-lakh-power-looms-situ-upgradation-scheme/
India’s Union Budget 2018 Live: Outlay of Rs. 7,148 Cr announced for textile industry
During the Union Budget announcement Indian Government increases allocation for the textile industry from Rs. 6,000 crores to Rs. 7,148 crores for FY 2018-19.
Read full story here: https://apparelresources.com/business-news/policy/union-budget-2018-live-outlay-rs-7148-cr-announced-textile-industry/
Indian Government to promote Khadi as global fabric
The Indian Govt boosted the promotion of Khadi on a global level and that resulted in a rapid rise in Khadi products’ sale throughout the year.