Unveiling an estimate, Ministry of Textiles (MoT), India has said that the country created over 7,50,000 jobs in textile and garment industry last fiscal ended in March 2017. This massive boost in the jobs was recorded as the Government announced a whopping Rs. 6,000 crore package in June 2016 with some comprehensive changes related to labour laws.
The MoT reported that 3,26,471 direct and 4,24,412 indirect jobs were created in the sector powered by the investments to the tune of Rs. 8,544 crore flowed into weaving, garmenting, processing technical textiles and composites through the Ministry’s flagship scheme — the Amended Textile Upgradation Fund Scheme (A-TUFS) — that was tweaked last year. A-TUFS was created to give additional subsidy to the garment makers, as part of the package.
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However, even after the additional job creation, investments and exports have fallen too short of the Government’s ambitious targets. The Government was targeting one crore new jobs, additional investments of Rs. 74,000 crore and extra exports of US $ 30 billion over three years through last year’s garment package.