By TIOL News Service

NEW DELHI, FEB 12, 2021: TO boost exports, the Ministry of Textiles said on Thursday it is formulating a new scheme to promote identified Man-Made Fibre (MMF) apparel and technical textile.

In a written reply to the Rajya Sabha, Textiles Minister Ms Smriti Zubin Irani said India is the sixth largest exporter of textiles and apparels in the world, with the sector making up 11 per cent of mercantile exports in 2019-20.

Taking steps to "capture substantial share in global trade," Ms Irani said the ministry and the government are working on schemes to enhance India's manufacturing capabilities.

The government has decided to extend the benefit of the Scheme for Remission of Duties and Taxes on Exported Products (RoDTEP) to all export goods with effect from January 1, 2021.

The Cabinet has approved Production-Linked Incentive (PLI) scheme in the MMF and technical textiles sector, with an approved financial outlay of Rs 10,683 crore over a five-year period.

The budget also announced the launch of Mega Integrated Textile Region and Apparel (MITRA) Parks scheme that will enable the textile industry to become globally competitive, attract large investments and boost employment generation.