1、1In the Union Budget 2021-22, the Indian government announced a produc?on-linked incen?ve (PLI) scheme for 13 sectors (including tex?les) at an es?mated outlay of Rs. 1.97 lakh crore (US$ 26.70 billion) to boost domes?c produc?on and employment. As part of this, in September 2021, Prime Minister Mr.

2、 Narendra Modi approved the produc?on-linked incen?ve (PLI) scheme in the tex?les sector-for man-made fibre (MMF) apparel, MMF fabrics and 10 segments/products of technical tex?lesat an es?mated outlay of Rs. 10,683 crore (US$ 1.45 billion). Through this scheme, the government aims to boost the manu

3、facturing of high-value MMF fabrics, garments and technical tex?les and promote investments from global players in the sector. Following this, the government plans to establish the tex?le sector as one of the strongest pillars of Prime Ministers Atmanirbhar Bharat (self-reliant India) ini?a?ve.PRODU

4、CTION LINKED INCENTIVE (PLI) SCHEME IN THE TEXTILE SECTORIN THE TEXTILE SECTORfacilitate a cumula?ve turnover of Rs. 3 lakh crore (US$ 40.66 billion) and create 7.5 lakh addi?onal employment opportuni?es in the country.Over the next five years, the PLI scheme for tex?les is expected to result in an

5、es?mated investment of Rs. 19,000 crore (US$ 2.58 billion), Poten?al investment phaseBy implemen?ng the PLI scheme, the government aims to a?ract investments in the following two phases:PLI SCHEME FOR TEXTILES: IN-DEPTH ANALYSISDetails of the PLI scheme for tex?les are as follows:Higher priority for

6、 investmentMMF segments. The scheme is likely to focus on varied product categories under technical tex?les (10) and man-made fibres (40). The government is likely to offer scheme incen?ves As per industry es?mates, this scheme is expected to be implemented through Focus Product Incen?ve Scheme (FPI

7、S), which aims to create champion companies in tex?les and 2As per the Ministry of Tex?les, the sector employs 45 million people directly and offers a source of income for 100 million people indirectly, including a significant number of women and rural residents across the country.As per DGCI&S (Dir

8、ectorate General of Commercial Intelligence and Sta?s?cs) and Wazir Analysis, the tex?les and apparel market in India is projected to increase at a CAGR of 10% between 2019-2020 and 2025-26 to reach US$ 190 billion by 2025-26, from an es?mated US$ 75 billion in 2020-21. The market share of apparel t

9、o the total tex?les and apparel market is es?mated to be the largest at 70% between 2019-20 and 2025-26. to both brownfield and greenfield investments to achieve a faster recovery via diversifica?on of Indias export basket.THE TEXTILES AND APPAREL MARKET IN INDIAThe Indian tex?les and apparel market

10、 comprise small, non-integrated weaving, spinning and kni?ng apparel making and fabric finishing firms that manufacture products such as fibre, yarn, co?on, jute, silk, wool, fabric, processed fabric and apparel. As of FY20, the tex?les and apparel sector accounted for 7% of the manufacturing produc

11、?on and contributed 2% to the countrys GDP. Indian Tex?les and Apparel Exports3As of FY20, India was the fi?h-largest exporter of tex?les and apparel worldwide. As per DGCI&S (Directorate General of Commercial Intelligence and Sta?s?cs) and Wazir Analysis, the tex?les and apparel exports are project

12、ed to increase at a CAGR of 11% between 2019-2020 and 2025-26 to reach US$ 65 billion by 2025-26, from an es?mated US$ 28.4 billion in 2020-21.In 2020, the tex?les & apparel market was impacted by the ongoing COVID-19 pandemic, resul?ng in cessa?on of tex?les manufacturing and economic ac?vi?es, exc

13、ept for essen?al goods and services. Following this, the tex?les and apparel market recorded a downfall in domes?c sales and exports of goods. However, as per the DGCI&S and Wazir es?mates, in 2021 and 2022, the tex?les and apparel market in India is likely to register significant growth due to risi

14、ng demand from consumers and governments increased efforts to boost the sector.KEY ECONOMIC INDICATORSAs per Reserve Bank of Indias (RBI) revised es?mates of July 2021, the countrys real gross domes?c product (GDP) is es?mated at 21.4% for the first quarter of FY22. Several government schemes includ

15、ing the recently announced economic relief package worth Rs. 6.29 lakh crore (US$ 84.18 billion) (announced in June 2021) and execu?on of the PLI (produc?on-linked incen?ve) scheme are expected to contribute to the economic growth. As per Credit Suisse (an investment bank) es?mates, the PLI scheme i

16、s expected to Monthly Index of Tex?les and Apparel Industrial Produc?on4generate incremental sales of US$ 150 billion by FY27, adding 1.7% to the countrys GDP by FY27.In 2021, the tex?les and apparel industry registered growth in industrial produc?on on the back of increasing demand from consumers i

17、n India. This growth in consumer demand and increased industrial produc?on also indicate steady recovery amid the pandemic.Monthly Index of Tex?les and Apparel Industrial Produc?on As per the Department for Promo?on of Industry and Internal Trade (DPIIT), in FY22 (un?l July 2021), the cumula?ve inde

18、x for industrial produc?on in tex?les and apparel sectors stood at 112.3 and 107.1, respec?vely. In FY22 (un?l July 2021), the average IIP for both tex?les and apparel sectors increased by 115.5% and 47.3% YoY respec?vely.increased to 130.5 in July 2021 from 129.4 in June 2021, while apparel increas

19、ed to 140.8 in July 2021 from 139.9 in June 2021.As per the Department for Promo?on of Industry and Internal Trade (DPIIT), the wholesale price index (WPI) for tex?les RMG of the tex?les segment contributed 40% (the largest share) to the total exports of tex?les between April 2021 and May 2021, regi

20、stering a rise of 274% YoY. In addi?on, the co?on yarn/fabrics/made-ups, handloom products segment held the second largest share at 36%, registering an export growth of 254% YoY in the same period.The jute manufacturing (including floor covering) segment registered the fastest export growth at 504%

21、YoY between April 2021 and May 2021. This growth in jute exports was driven by the governments con?nuous efforts to boost domes?c jute produc?on and exports. The key ini?a?ves taken by the Indian government included the Jute ICARE (improved cul?va?on and advanced re?ng exercise) project, scheme for

22、research and development for the tex?les industry including jute and R&D promo?on in the jute sector.The handicra?s segment registered the second-fastest export growth at 396% YoY in the same period.KEY DRIVERSRising demand for tex?les exportsIn 2021, the tex?les and apparel market in India register

23、ed a strong export growth, indica?ng improved exports of tex?les from India amid the COVID-19 pandemic.As per the Directorate General of Commercial Intelligence & Sta?s?cs, between April 2021 and May 2021, exports of all tex?les (co?on yarn/fabs./made-ups, handloom products, man-made yarn/fabs./made

24、-ups etc.), RMG (readymade garments), jute manufacturing (products made up of raw jute) including floor covering carpet, handicra?s (excluding handmade carpets) from India registered an increase of 271% YoY to reach at US$ 6.1 billion, from US$ 1.6 billion between April 2020 and May 2020.Index Numbe

25、rs of Tex?les and Apparel Wholesale Price in India5Indian Exports of Tex?les (US$ billion)FDI inflows in the tex?les sector (includes dyed and printed products) in India stood at US$ 3.77 billion between April 2000 and June 2021, an increase from US$ 3.46 billion between April 2000 and June 2020.Bet

26、ween April 2016 and March 2021, Japan invested US$ 381.47 million (the largest amount) in FDI in the Indian tex?les sector. Rising foreign investment inflows into the Indian tex?les sectorIn 2021, the tex?les industry in India is recording a significant growth in the foreign investment inflows owing

27、 to policy support (e.g., 100% FDI is permi?ed in the sector). According to the Department for Promo?on of Industry and Internal Trade (DPIIT), cumula?ve FDI Equity Inflow in Indian Tex?les Sector (includes dyed and printed)between US$ 5,000 and US$ 10,000, were es?mated at 109 million in FY20, a gr

28、owth of 12% (over the last five years). In the same period, Indian households with annual earnings between US$ 10,000 and US$ 50,000 registered a CAGR of 20%. By 2030, India would account for 23% share to the global middle-class popula?on. As a result, rising middle class Growing middle class popula

29、?on driving demand for tex?lesIn 2021, the Indian tex?les market is pos?ng a rise in demand due to growing middle class popula?on and rising income levels of consumers across the country. The number of Indian households, with annual earnings 6As per data published by TexPro, USDA (United States Depa

30、rtment of Agriculture) & DGFT (Directorate General of Foreign Trade), in 2019-20, Indian exports of co?on yarn stood at 930 thousand metric tonnes. In the first half of 2020-21, the monthly average of co?on yarn exports increased to 89.64 thousand metric tonnes, as compared with monthly average expo

31、rts of 77.50 thousand metric tonnes in 2019-20, an increase of 15.67%.The co?on fabric exports from India stood at 1,489.15 thousand metric tonnes in 2019-20. In the first half of 2020-21, the monthly average of co?on fabric exports increased to 169.52 thousand metric tonnes, as compared with monthl

32、y average exports of 124.10 thousand metric tonnes in 2019-20, an increase of 36.61%.popula?on and increased earnings lead to higher expenditure on luxury products, apparel & accessories, consumer durables, etc., and therefore, boost the tex?les sector in India.Rising demand for casual wear amid the

33、 COVID-19 pandemicAccording to apparel manufacturers (including players such as Lifestyle Business Raymond Ltd. and KG Exports), the Indian apparel market is recording a shi? from formal wear to casual/comfort wear amid the ongoing work-from-home trend across the country. The formal wear segment, wh

34、ich accounted for the majority at 60-65% of the Indian apparel market in the pre-pandemic period (before March 2020), accounted for 35-40% in 2021. This dip in the market share was due to the emerging demand and shi?ing preferences for casual/comfort wear among consumers in India.Increasing demand f

35、or co?on yarn and fabricIn 2021, dend for the Indiaman co?on yarn and fabric has been increasing due to rising trade of co?on and allied products in interna?onal markets. In the second half of 2020, key countries that imported co?on from India included Vietnam, Bangladesh and China.Exports from Indi

36、aKEY TRENDSRising demand for technical tex?lesThe technical tex?les market in India is projected to increase to reach US$ 23.3 billion by 2027, from an es?mated US$ 14 billion in 2020, driven by expanding end-use sectors, rising consumer awareness and government 7Mega Integrated Tex?le Region and Ap

37、parel (MITRA) Park scheme to build seven tex?le parks with state-of-the-art infrastructure, common u?li?es and R&D lab within three years. To achieve this, the government undertook several ini?a?ves as follows Under the Union Budget 2021-22, the Telangana government has been granted funds for se?ng

38、up the Kaka?ya Mega Tex?le Park (KMTP) at an es?mated cost of Rs. 1,552 crore (US$ 212 million). In March 2021, the Gujrat government announced to establish two mega tex?le parks to facilitate forward and backward integra?on in the sector.Other government schemes in the tex?les sectorThe Indian gove

39、rnment introduced several schemes and ini?a?ves to boost the countrys tex?les sector. Some key ini?a?ves and schemes are as follows: Rebate of State and Central Taxes and Levies (RoSCTL) schemeIn July 2021, the Union Cabinet approved the con?nuance of the Rebate of State and Central Taxes and Levies

40、 (RoSCTL) scheme to offer garment exporters a tax rebate on their outbound shipments un?l March 2024. With this ini?a?ve, the government aims to improve compe?veness in the tex?les sector, help boost exports and generate employment opportuni?es. Remission of Du?es and Taxes on Exported Products (RoD

41、TEP) schemeEffec?ve January 2021, the government no?fied the rates and norms for the Remission of Du?es and Taxes on Exported Products (RoDTEP) scheme to exempt exporters from tax du?es. In the Union Budget 2021-22, the government also allocated funds worth Rs. 2,454 crore (US$ 333.41 million) for t

42、he scheme. Na?onal Technical Tex?les Mission 2020In 2020, the Cabinet Commi?ee on Economic Affairs introduced the Na?onal Technical Tex?les Mission to provide a s?mulus to applica?on-based research and reinforce technical tex?les value chain in India. The government announced an alloca?on of Rs. 1,4

43、80 crore (US$ 201.08 million), for four years (FY21-FY24) to implement the scheme.ini?a?ves (Na?onal Technical Tex?les Mission, PLI scheme for tex?les, Mega Investment Tex?les Parks (MITRA), etc.).COVID-19 outbreak spurred demand for MeditechBetween 2020 and 2027, the medical tex?les market in India

44、 is expected to record an increased demand from consumers owing to the outbreak of COVID-19. Following this, consumers are expected to focus on affordable medical supplies (e.g., masks, wipes, etc.) for be?er safety and hygiene. The technical tex?les market for medical tex?le was valued at US$ 0.6 b

45、illion in 2020 and is projected to reach US$ 1.0 billion by 2027, primarily driven by rising consumer preference for hygienic medical supplies.Establishment of tex?le parks Scheme for Integrated Tex?le Parks (SITP)In 2005, the Indian government launched the Scheme for Integrated Tex?le Parks (SITP)

46、to establish tex?le parks and therefore, strengthen the tex?les infrastructure in the country. The government sanc?oned 56 tex?le parks and announced funds worth Rs. 1,398.98 crore (US$ 190.07 million) to implement and establish these parks. Of the total, 23 parks have been completed (as of FY21) an

47、d the remaining 33 are under construc?on.With 5,333 tex?le units, these tex?le parks are likely to generate 344,443 employment opportuni?es and a?ract investment worth Rs. 26,529 crore (US$ 3.60 billion). Mega Integrated Tex?le Region and Apparel (MITRA) ParkUnder the Union Budget 2021-22, Finance M

48、inister Ms. Nirmala Sitharaman introduced a 8 Scheme for Capacity Building in Tex?le Sector (Samarth)In 2017, the Cabinet Commi?ee on Economic Affairs (CCEA) approved the Scheme for Capacity Building in Tex?le Sector (Samarth) to offer a placement-oriented and demand-driven skilling program to incen

49、?vise the industrys efforts to generate employment opportuni?es with a target to train 10 lakh individuals.Under the scheme, 1,565 ar?sans have been benefi?ed by 63 training centres in the first batch, while the second batch is expected to be completed by August 2021, benefi?ng 1,421 ar?sans.KEY DEV

50、ELOPMENTS AND ACHIEVEMENTSKey recent developments and achievements in the Indian tex?le sector are as follows:Indias historic glory in the tex?les sector India as the second-largest producer of PPE (personal protec?on equipment)In March 2020, the COVID-19 pandemic brought a huge challenge for the co

51、untrys healthcare sector. The Ministry of Tex?les, within a period of two months, built a new industry for PPE (personal protec?on equipment) worth Rs. 7,000 crore (US$ 1 billion). The Ministry ensured the highest quality and quan?ty to meet the needs of consumers worldwide by approving 1,100 firms

52、to indigenously manufacture PPE with a daily produc?on capacity of 4.5 lakh. As of FY21, the PPE coveralls produc?on in India stood at 6 crore, with exports at 2 crore to countries such as Australia, Africa, the US, Europe and the Middle East. In addi?on, India comprised 200 N-95 mask producers, wit

53、h the Amended Technology Upgrada?on Fund Scheme (ATUFS)Between 2016 and 2022, the government announced an outlay of Rs. 17,822 crore (US$ 2.42 billion) to implement the amended Technology Upgrada?on Fund Scheme (ATUFS) to upgrade technologies in the tex?le industry and incen?vise manufacturing acros

54、s the country. This ini?a?ve is expected to a?ract investment worth Rs. 1 lakh crore (US$ 13.59 billion) and generate 35.62 lakh employment opportunity in the Indian tex?le sector by 2022. Under ATUFS, a total of 11,107 UIDs have been issued as of March 2021 at an es?mated project cost of Rs. 46,860

55、.70 crore (US$ 6.36 billion). In 2016, the government announced a special package of Rs. 6,000 crore (US$ 815.19 million) to boost investments, exports and employment opportuni?es in the made-ups and garmen?ng sector in the country. As part of this, the government also announced to offer a produc?on

56、-linked addi?onal incen?ve of 10% under the Amended Technology Upgrada?on Fund Scheme (ATUFS). Integrated Skill Development Scheme for the Tex?les and Apparel Sector (ISDS)In 2011, the government launched the Integrated Skill Development Scheme for the Tex?les and Apparel Sector (ISDS) scheme to off

57、er industry-specific skills to employees. As of July 2021, 1.1 million individuals have been trained in diverse segments, under the scheme, of which 76% people (i.e., 8.43 lakh) have been employed.9Leveraging strategic partnership for export growthThe Indian government aims to leverage strategic par

58、tnerships to increase exports from India. In January 2021, the Tex?les Commi?ee, the Ministry of Tex?les signed a memorandum of understanding (MoU) with Nissenken Quality Evalua?on Centre, Japan, to enhance tex?le and apparel exports from India to the Japanese market.According to the Department for

59、Promo?on of Industry and Internal Trade (DPIIT), Japan accounted for the largest share of 20% to the total FDI equity inflows in the Indian tex?les sector between April 2016 and March 2021. Also, the FDI equity inflows increased from US$ 49.98 million in 2016-17 to US$ 208.56 million in 2020-21, tak

60、ing the overall FDI equity inflows from Japan to US$ 381.47 million between April 2016 and March 2021.current produc?on capacity of N-95 at 32 lakh per day. As of November 2020, N-95 mask produc?on in India stood at 6 crore and exports stood at 4 crore. As of mid-May 2020, the actual daily produc?on

61、 capacity of body coveralls increased to 4.5 lakh pieces.Moreover, owing to the proac?ve efforts of the Indian government and industry players, in May 2020, India became the second-largest manufacturer of personal protec?ve equipment (PPE) worldwide.Key announcements made by the government The gover

62、nment made the following key announcements in the tex?les sector.: Achieving self-reliance in silk produc?onIn March 2021, the Minister of Tex?les, Mrs. Smri? Irani announced that India will be fully self-reliant in silk produc?on in the next two years.As per the data published by the Ministry of Te

63、x?les, in FY20, the total raw silk produc?on increased by 1% (35,820 MT), as against FY19 (35,468 MT), which was 93% achieved produc?on target for the year despite COVID-19. In FY21 (un?l December 2020), the raw silk produc?on stood at 24,029 MT. The government has been taking several ini?a?ves to b

64、oost domes?c Key developments in the technical tex?les sector in IndiaKey developments in the countrys technical tex?les (TT) sector are as follow: In January 2019, 207 HSN Codes for TT products were no?fied. 92 TT applica?ons were iden?fied for mandatory use across nine different user ministries. T

65、he government is focusing on designing new courses for technical tex?les skill development. In April 2021, the Union Minister of Tex?les Mrs. Smri? Irani announced that the Na?onal Ins?tute of Fashion Technology (NIFT) plans to introduce technical tex?les as an academic subject to train and impart s

66、kills to the countrys youth and prepare them as per the industry-based required skill set.Japan FDI Equity Inflows in the Indian Tex?les Sector (includes dyed and printed products)10made and technical tex?les account for two-third percentage of all interna?onal trade. In line with this, the governme

67、nt approved the PLI scheme for tex?les to further strengthen the countrys tex?les market and improve Indias contribu?on to the global trade of fabrics and garments made from MMF.Major boost to MMF and technical tex?les products in IndiaConsumers worldwide are shi?ing towards MMF-based products. As p

68、er Trade Map database, in 2019, global exports in the top 40 traded MMF apparel lines were es?mated at US$ 133.90 billion, with India accoun?ng for 5% of the global exports in each line. Countries such as China, Vietnam, Bangladesh and Germany accounted for significant shares in the global exports o

69、f these top 40 traded lines, at 40%, 10%, 6% and 5%, respec?vely.Also, the global market for technical tex?les is projected to reach US$ 220.37 billion by 2022, from US$ 176.83 billion in 2018, registering a CAGR of 5.89% (as per a report published by Markets and Markets). However, Indias technical

70、tex?les consump?on was es?mated at only 5-10%, as compared with 30-70% in some advanced economies.As per Trade Map database, in 2019, global exports in the top 10 traded technical tex?le lines were es?mated at US$ 81.39 billion, with Indias share to the total market at 0.85%, as compared with the ma

71、rket share of China (21%), Germany (9%), the US (9%) and Japan (5%).The government, in September 2021, introduced the PLI scheme with primary focus on high-value MMF products and technical tex?les to increase Indias share in the global trade of these product lines.produc?on and make it self-reliant.

72、 In line with this, in the Union Budget 2021-22, the government announced to increase the custom duty on raw silk and silk yarn to 15%, from previous 10%, which is expected to benefit domes?c silk growers. Strengthening the toy sector in IndiaThe government is focusing on boos?ng toy produc?on in In

73、dia and strengthening the sector for poten?al growth in exports. To achieve this, in March 2021, the government announced to include toys as one of the 24 primary sectors listed under the self-reliant India ini?a?ve. The Department for Promo?on of Industry and Internal Trade (DPIIT) established a Na

74、?onal Ac?on Plan for toys that requires several Central Ministries, including Tex?les, I&B, MSME, Educa?on, DPIIT (under the Ministry of Commerce) and other departments, to foster and encourage the industry.OPPORTUNITIES FOR THE TEXTILES SECTOR VIA THE PLI SCHEMEIn September 2021, the Minister for C

75、ommerce & Industry, Tex?les, Consumer Affairs and Public Distribu?on, Mr. Piyush Goyal stated that man-Note: MMF (40) indicates the top 40 traded products in manmade fibre (MMF). Technical tex?les (10) indicate the top 10 traded products in technical tex?les.11the PLI scheme is expected to primarily

76、 benefit Indian states such as Tamil Nadu that are already leading markets for tex?les.As per the industry experts, an es?mated investment of Rs. 1 crore (US$ 136.10 thousand) in the tex?les sector has the poten?al to generate an es?mated 70 jobs. More produc?on is also expected to generate more GST

77、 revenue, contribu?ng to the overall development of states and the country.In line with the scheme, Indian states have been taking proac?ve efforts to a?ract investments and boost the growth of the tex?les sector. As per tex?le industry stakeholders, Tamil Nadu government has been ac?ve in crea?ng a

78、 suppor?ve reform to promote projects under the PLI scheme in the state. For instance, in September 2021, the state government announced to eliminate 1% Agricultural Market Commi?ee cess on co?on and co?on waste; this was applauded by the industry as it has been a long pending request of tex?le indu

79、stry associa?ons. The government has also assured fast-clearance to nodal agencies to speed up projects. CONCLUSIONThe Indian government aims to boost the domes?c produc?on of the tex?les sector to 250 billion and increase exports to US$ 100 billion at the earliest. In line with this, the As per the

80、 government data, in FY20, man-made staple fibres exports from India stood at US$ 1.7 billion, while exports of technical tex?les stood at US$ 42.7 million.In the first quarter of FY22, man-made staple fibres exports from India stood at US$ 483.3 million, while exports of technical tex?les stood at

81、US$ 11.7 million.The PLI scheme for tex?les is likely to shi? the gear from co?on to MMF and technical tex?les. This ini?a?ve is expected to help push the Aatmanirbhar Bharat Mission and promote exports of more MMF-based tex?les, since Indias MMF garment industry is posi?oned for rapid expansion in

82、the coming years owing to the ease of doing business reforms and increased investor confidence.Major boost to aspira?onal districts, ?er III and ?er IV ci?es in IndiaThe government aims to boost the countrys economy. To achieve this, through the PLI scheme in the tex?les sector, it aims to priori?se

83、 investments, specifically in aspira?onal districts, Tier III and Tier IV markets. As a result, the PLI scheme is expected to posi?vely impact Indian states such as Odisha, Telangana, Maharashtra, Tamil Nadu, Punjab, U?ar Pradesh, Gujarat and Andhra Pradesh, by a?rac?ng investments in these states;

84、therefore, generate employment opportuni?es and boost the tex?les sector. Also, 12to be the key force in a?rac?ng huge investments and genera?ng employment for the youth in the country. Key players in the Indian tex?les industry are ac?vely focusing on leveraging the PLI scheme for numerous opportun

85、i?es. For instance, Indo Rama Synthe?cs (India) Ltd., one of the leading tex?le players, is expected to establish an addi?onal capacity unit to leverage benefits under the PLI scheme.According to Mr. Amitabh Kant, CEO of NITI Aayog, the announced PLI scheme incen?ve is expected to boost compe?veness

86、 for large firms as well as medium and small suppliers across the value chain. As a result, the PLI scheme is expected to augment Indias manufacturing capabili?es, contribu?ng to the Atmanirbhar Bharat (self-reliant India) ini?a?ve and exports, boos?ng the countrys posi?on to become a leading export

87、er of tex?les.government has set target to achieve exports of US$ 45 billion in the Indian tex?les and apparel (including handicra?s) sector by Fy22.To achieve this, the government has been taking several ini?a?ves. Along with budgetary alloca?ons to tex?le schemes and policy support, the government

88、, in 2020, launched Kasturi Co?on, an Indian brand with interna?onal fibre quality, which provided the tex?les industry a huge pla?orm and exposure to expand business opportuni?es worldwide.In addi?on, in September 2021, Mr. Piyush Goyal announced that he has been in talks with several countries (the UK, Australia, EU, etc.) to expedite FTAs (Free Trade Agreement)/PTAs (Preferen?al Trade Arrangements) and create new avenues to establish a loyal customer base. In addi?on, PLI scheme for tex?les is expected 13