Package for knitwear industry soon: Smriti Z Irani

NEW DELHI: The government is working on a package for the knitwear industry and is likely to announce it in a month or two, textile minister Smriti Z Irani said on Monday. Post this, the government would come out with a comprehensive policy for textile sector.

“We plan to come out with a package for the knitwear industry in a month or two,” Irani said while briefing the media on three years of initiatives and achievements of the textiles ministry. The government has already come out with a package for garments, made ups and powerloom sector in the last one year.

The knitwear industry which mainly comprises small and medium enterprises was left out in the earlier scheme of things and experts says that the package can ease the pain especially with the goods and services tax kicking in. The minister also said that work is ongoing for a National Textile Policy and could be taken up after the flagship Textiles India event in July.

The policy seeks to address concerns related to skilled workforce, labour reforms, attracting investments in the textile sector and providing a future roadmap for the textiles and clothing industry. The textile sector received Rs 3,000 crore worth investment in the last three months since the government launched a package for apparel in June.

The package is designed to create one crore jobs, boost exports by $30 billion and investments by Rs 74,000 crore in three years.