Govt eyes 18% rise in garment export
The government is targeting garment export to increase by 18 per cent in this financial year on the back of special financial incentives given to the sector. The country registered exports of $17 billion during the last financial year. The government has given an additional 10 per cent subsidy for the garment and made-up segments, which means that the home textile industry will effectively get 25 per cent capital investment subsidy on new machines they bring in. This will lead to efficiency and modernisation of the sector.