The government is focusing on certain sectors to promote its ‘Aatmanirbhar Bharat’ mission and has identified the textile sector as one of the key sectors to take it forward. In light of this, the Modi government is planning to give a much-needed relief to this sector.
The textile sector will play a big role in realising government’s dream of ‘Aatmanirbhar Bharat’.
The government is planning to develop a large world class textile infrastructure in the country in the form mega textile parks.
The mega textile parks will encompass a complete value chain of this sector, she added. India has been lagging in this respect, though there are similar such ecosystems for this sector in other countries.
To make this happen, the government is planning to promote naturally used products like bamboo and high-performance value-added fibers and their products.
For execution lots of planning like providing credit at concessional rates through interest subvention schemes, credit guarantees, margin money subsidy and large warehouse infrastructure near all ports are in discussion.
Technical textiles are another important element. This segment caters to the sectors like automobiles, medical, sports, agriculture and industries.