The Indian government has taken a number of initiatives to support and promote the growth of the textile sector in the country.
One of the major initiatives is the Technology Upgradation Fund Scheme (TUFS), which was launched in 1999. The scheme aims to modernize the textile industry by providing financial assistance to textile and garment manufacturers for the purchase of new machinery and equipment. This has helped the industry to become more efficient and competitive in the global market.
Another initiative is the National Handloom Development Programme (NHDP), which was launched in 2000. The program aims to support the development of the handloom sector by providing financial assistance to weavers and artisans. This has helped to preserve traditional textile techniques and promote the use of natural fibers such as cotton and silk.
The Indian government also launched the Scheme for Integrated Textile Parks (SITP) in 2005. The scheme aims to create world-class infrastructure for textile manufacturers by providing financial assistance for the development of textile parks. This has helped to attract new investment in the textile sector and create job opportunities for local communities.
In addition to these initiatives, the government has also implemented a number of policies to promote exports of textile products. For example, it has set up the Apparel and Made-ups Export Promotion Council (AEPC) to promote the export of apparel and made-ups. The government also provides incentives such as duty-free import of capital goods and raw materials for textile exporters.
Overall, the Indian government’s initiatives have played a crucial role in the development and growth of the textile industry in India. Acme Creation is proud to be a part of this dynamic and growing industry, and we look forward to continuing to contribute to its success.