2.5 lakh jobs cre­ated in gar­ments, made-ups seg­ment

Stitch World - - NEWS TRACK -

The re­lief pack­age an­nounced in 2016 helped the gar­ments and made-ups sec­tors cre­ate around 2.5 lakh new jobs in the coun­try. This was re­vealed by the Union Tex­tile Com­mis­sioner Kavita Gupta, who was in Coim­bat­ore ( Tamil Nadu) re­cently to in­au­gu­rate the ‘Re­gional Of­fice of the Syn­thetic

& Rayon Tex­tiles Ex­port Pro­mo­tion Coun­cil (SRTEPC)’ at SIMA (South­ern In­dia Mills’ As­so­ci­a­tion) premises.

“The Govern­ment now wants to note a dou­ble­fold in­crease in an­nual rev­enue to US $ 300 bil­lion by 2025,” she added.

No­tably, the ready­made gar­ment sec­tor is the largest con­trib­u­tor to the coun­try’s over­all tex­tile ex­ports and em­ploys about 12 mil­lion peo­ple now.

The Tex­tile Com­mis­sioner said var­i­ous ben­e­fits have been an­nounced by the Union Govern­ment in­clud­ing giv­ing em­ployer’s con­tri­bu­tion to the em­ployee prov­i­dent fund (EPF) for new work­ers earn­ing less than Rs. 15,000 per month dur­ing the first three years of em­ploy­ment. Govern­ment has also made EPF for work­ers earn­ing less than Rs. 15,000 monthly. The Govern­ment had also re­laxed the pro­vi­sion of 240 days of em­ploy­ment per year for work­ers un­der Sec­tion 80JJAA of the In­come Tax Act to 150 days an­nu­ally for the gar­ment in­dus­try.

A new scheme has also been in­tro­duced to re­fund the state levies which were not re­funded ear­lier. The cap­i­tal sub­sidy un­der amended TUFS ( Tech­nol­ogy Upgra­da­tion Fund Scheme) has been in­creased to 25 per cent from 15 per cent.

The Tex­tile Com­mis­sioner said that the new tex­tile in­dus­try poli­cies an­nounced over the years will help the in­dus­try in­crease its rev­enue. How­ever, the tum­bling ex­ports from the coun­try re­mains a se­ri­ous con­cern for many stake­hold­ers.

The cap­i­tal sub­sidy un­der amended TUFS (Tech­nol­ogy Upgra­da­tion Fund Scheme) has been in­creased to 25 per cent from 15 per cent.

The ready­made gar­ment sec­tor cur­rently em­ploys about 12 mil­lion peo­ple

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