Let's have a look: The Potent Policies and the Textile Sector

The formidable growth of Textile Sector in mushrooming the number of employment generation opportunities and providing economic stability is exemplary. Textile industry in ndia is a structural wonder! as it has proven crucial for the country since it was established back in!"##". Textiles is one of the oldest industries and has a considerable presence in the national economy as it contributes a ma$or portion to the %&P of the country. t also contributes about "' per cent of manufacturing value(addition! accounts for around one(third of our gross export earnings and provides gainful employment to millions of people. t also contributes to nearly )*+ of the total exports and is the second largest employment generator after agriculture. %overnment initiatives has played a key role in symboli,ing and establishing this industry as a primary monetary institution and contributor. The blog discusses some of the crucial initiative that government has taken to boost this industry in the recent years. -ther than allowing "**+ .& /.oreign &irect nvestment0 in textiles under the automatic route. The %overnment introduced 1elfare schemes! under which the %overnment provides 2ealth and Life insurance coverage to "3"."* million weavers and ancillary workers under the hand loom weaver s comprehensive welfare scheme! while 4)***artisans were provided health coverage under the 5a$iv %andhi Shilpi Swasthya 6ima 7o$ana. The 8redit %uarantee program introduced by the %overnment has applied credit cards to more than 9'!*** artisans to promote and enable them with necessary supplies. :ore than "3.' million applications were received for issuing 8redit cards which are under banks' consideration with regards to the credit linkage program. The %overnment of ndia has taken an extraordinary step to waive a package of ;S< 3*' :illion which remain as an overdue loan on Textile industry. This is expected to benefit more than )**!*** hand loom weavers of the industry and "'!*** cooperative societies. The newly announced =* Textile Parks all across the country! that as per expectation would be functional in next )3 months would leverage employment o more than =**!*** textile workers. The product mix of these parks would include garment! silk! technical! textile! carpet! processing and power loom parks.

-ther than these schemes a great :emphis is laid upon skill development. The >( marketing platforms too have been introduced for the same.