11/09/2021 - Government Policies

KEY POINTS

·        India’s textile and clothing exports on the other hand have continued to remain dominated by cotton and other natural fibre-based products, with Man Made Fibre having contributed less than 30% of the country’s $35.6 billion in overall sectoral exports in 2017-18.

·        And MMF’s share remained relatively unchanged in the last fiscal as well when the sectoral exports were about $33 billion.

·        While policy makers have been cognisant of the need to bolster support for the MMF segment.

·        The task of crafting a meaningful initiative that would engender enhanced investment in capacity creation, leading to increased exports.

·        The aim of the scheme is to specifically focus investment attention on 40 MMF apparel product lines, 14 MMF fabric lines and 10 segments or products of technical textiles.

·        The inclusion of intermediate products at industry’s request also reflects the Government’s keenness to ensure the scheme ultimately delivers on the broader policy objectives.

·        On the face of it, the scheme appears designed with a fair deal of thought, but its operational success is likely to hinge on entrepreneurs.

·        The existing companies weigh the risk-reward equation, especially at a time when the pandemic-spurred uncertainty has already made private businesses leery of making fresh capital expenditure.

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