India has abundant raw materials when it comes to textiles. It is the largest producer of cotton, silk jute and textile raw materials like PSF, VSF and PFY. So it is natural that India is also the largest producer of textiles and garments. The textile industry has two broad segments, namely handloom, handicrafts, sericulture, power looms in the unorganised sector and spinning, apparel, garmenting, ready-mades in the organised sector.
Indian textile industry is expected to reach a market size of USD 223 billion by 2021. It is also the largest employer after agriculture providing direct employment of 45 million, a major contributor of foreign exchange. The government of India also takes several initiative like allowing 100% FDI, Technical Up-gradation Fund Scheme (TUFS), technical Read More
Telangana government is setting up an apparel value chain system at the upcoming apparel park in Sircilla district near Karimnagar in Telangana. The new park will entail an estimated investment of Rs 100 crore in collaboration with apparel manufacturer Kay ventures. The new park will come up in an area of 20 acres, will house 5,000 state of the art sewing units with its corresponding embroidery, printing, washing and value addition/support facilities and is proposed to be developed in three phases and will be fully operational in three years. The first phase of the project will come up at an investment of Rs 30 crore and will be operational in 9-12 months. While 90% of the investments in the first phase will be borne by the government, remaining will be funded by Kay ventures and their ass Read More
Maharashtra government has unveiled a new textile policy for 2018-2023 to overcome certain short measures. The new policy looks at reducing power tariff and raising capital subsidy for spinning mills. Power tariff is one of the reason where mill owners are migrating to state which provide cheaper power. The policy also looks to strengthen the cotton industry and silk business. It provides higher concessions for setting up units in backward regions like Vidarbha, Marathwada and north Maharashtra region. The policy also provide for creation of textile cluster and garment parks, textile university in the Vidarbha region. Capital subsidy has been increased substantially for processing units, spinning mills, and modernisation of power looms. It proposes to give 45 per cent capital subsidy for Read More