Ministry of Textiles Boosts Industry with New Schemes and Initiatives

The Ministry of Textiles has unveiled a series of initiatives aimed at enhancing the competitiveness of India's textile industry both domestically and internationally. These initiatives include the PM Mega Integrated Textile Regions and Apparel Parks Scheme and the Production Linked Incentive Scheme to promote large-scale manufacturing. Additionally, strategies for market diversification and the organization of Bharat Tex are set to boost international engagement. Government incentives such as the RoSCTL and RoDTEP schemes help reduce taxes for exporters, while import duty exemptions on cotton and rationalized GST rates aim to reduce costs across the textile sector. Furthermore, India has signed 15 Free Trade Agreements, including one with the UK, to ease trade barriers and improve market access for Indian textile exporters.

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