Government reforms will help India top China in textile industry

By

Maverick Martins

Published
Dec 12, 2016

Indian Texpreneurs Federation (ITF), a textile industry body, said India can outperform China in the coming years, with India boasting an estimated $96 billion chunk of the global home textile market.

To boost the textile industry, the government recently brought in reforms to labour laws and extended a special package to the made-ups sector.

With enhanced duty drawback rates to cover State levies along with an increase in capital subsidies and reforms in labor laws, the industry can expect a solid growth in investments in this sector and also increase the market share of home textile market globally, ITF Secretary, Prabhu Dhamodharan said in a statement.

For the past few years, made-up exports saw an uptrend on year on year. In particular, India's share in the UA market has become increasingly steady, with a current share of 17 per cent, he said.
 
"We are extremely happy to witness a continuous focus and support from the government for various segments of the textile manufacturing sector. The industry is confident of creating further employment opportunities for many rural youths, particularly women, and the textile sector will be the ideal example for success of "Make In India," Prabhu said.