Kolkata: The textile sector is one of the most significant labour-intensive sectors that has been harmed by the US tariffs. The action points mentioned by the FM pertain to all fibres from silk to wool and jute. While Donald Trump’s tariffs have been a setback to the exports of this sector, India has struck an FTA with the EU zone that allows duty-free access of this sector to the EU nations.
Five-point agenda
FM Nirmala Sitharaman announced a five-point agenda to boost the textile and apparel sector.
The measures she announced includes:
National fibre scheme for self reliance in natural fibres such as silk, wool and jute as well as man-made fibres and new-age fibres
Textile expansion and moderisation scheme in traditional clusters with capital support for machinery, technology upgradation and common testing facility
National handloom and handicraft programme to integrate and strengthen existing schemes and ensure targeted support for weavers and artisans
Tex eco initiative to promote globally competitive and sustainable textile and apparel industry
Modernise the skilling of textile ecosystem
The FM mentioned industry and academia and other stakeholders will come together to collaborate to make the textile sector a powerhouse.
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