Package for home textiles in forthcoming Textile Policy

MUMBAI: The much-awaited new National Textile Policy will soon be placed before the Cabinet seeking approval, a top official said today.

Textile Secretary Rashmi Verma also said the policy contains a package to boost job creation and promotion of made-ups for the home textile sector, on the lines of the one which was extended to the apparel industry.

"The draft textile policy will be soon placed before the Cabinet and the home textile sector can also look forward to a package similar to what is extended to the apparel sector," Verma said at an event here, according to a release issued by Texprocil.

Besides, she said the government has already started the process of reviewing the existing free trade agreements (FTAs) and is also seriously negotiating the FTAs with EU, Australia and Canada.

On Brexit issue, Verma said the time is right for India to sign a separate bilateral agreement with the Great Britain and the process for starting a dialogue is already on.

The government last month approved a Rs 6,000-crore special package for textiles and apparel sector to create one crore new jobs in 3 years, attracting investments of USD 11 billion and generating additional USD 30 billion in exports.

The measures approved include additional incentives for duty drawback scheme for garments, flexibility in labour laws to increase productivity as well as tax and production incentives for job creation in garment manufacturing.