New textile policy to generate 35 million jobs with foreign investments

Forging India’s national economic agenda through the ‘Make in India’ programme to create jobs for the youth, the Government of India is soon to unveil a new national textiles policy. Scheduled to be announced in August, the policy will help create 35 million new jobs by attracting foreign investments.
“The policy aims to address issues concerning lack of skilled workforce, labour reforms besides attracting foreign investments. The policy will be announced in July after the Cabinet approval,” said S K Panda, Textiles Secretary at the inaugural day of 61st National Garment Fair in Mumbai.
An expert panel which was constituted last year had submitted a draft of the new policy. The ministry has also sought Rs 12,000 crore for the Technology Upgradation Fund (TUF) scheme for the ongoing 12th Plan (2012-17). The Centre will spend Rs 20 crore to establish one modern apparel garment manufacturing centre in every northeastern state.
“Clothing Manufacturers Association of India (CMAI) is hopeful of achieving an export target of USD 18 billion this fiscal, up from USD 16.8 billion in previous year. We are hopeful of achieving an exports target of USD 18 billion in FY16 due to improving US economy. In view of the infrastructure issues and rising labour cost in Bangladesh and China, export growth looks brighter for us,” said Rahul Mehta, President, CMAI.