Incentives Will Help Boost Textile Exports to $26 Billion by 2019

An incentive of Rs 64.15billion cash subsidy to the textile and clothing sectors under the Textile Policy will boost exports to $26billion by 2019. The package announced under the Textile Policy (2015-19) carries special duty-drawback rates, duty exemption on plants and machinery, subsidy on long-term loans and also development subsidies.
Sources reveal that the Finance Division will provide Rs 40.6billion over five years for duty drawback, technology up-gradation and brand development. While another Rs 23.5billion will be provided for skill development, dedicated textile exhibitions, establishment of world textile centre, weaving city, incubators, apparel house, and mega textile awards. The sources believe around 120,000 people will be trained through skill development programme and 50 small companies from this sector would be picked each year.