Government considering to provide incentives to struggling textile, apparel sector
25 August 2023, Mumbai
The textile and apparel industry is grappling with a decline in exports and a significant loss of jobs.
Government Response: The Indian government is considering providing fiscal incentives to the industry by the end of the year.
PLI Program: The incentives could be channeled through the production-linked incentive (PLI) program, which has been designed to inject financial support into various manufacturing sectors.
Industry Request: The industry has requested that the government provide incentives specifically aimed at smaller manufacturers and reconsider the 11% import duty on certain varieties of cotton.
Concerns: The industry is concerned about potential job losses and is urging the government to take comprehensive measures to support the sector.
