India

The government of the Maharashtra state has included a US$9.5 million subsidy for the state’s textile industry in its proposed 2015-16 budget. The funds would be put toward an interest subsidy of 5-7% on long-term loans given to textile production units as well as a 10% capital subsidy. Government leaders in the state have also proposed a new Industrial Cluster Development Scheme to boost development in economically-depressed areas. (Fibre2Fashion)
 
The Tirupur Exporters Association (TEA) is urging Prime Minister Narendra Modi to expedite approval of a new Free Trade Agreement (FTA) with the European Union. TEA President A. Sakthivel recently sent a letter to the Prime Minister urging him to initiate discussions around the FTA when he visits Europe next month. Industry leaders say that if approved, the FTA would put India on a level par with Bangladesh in terms of garment exports to the European Union.(Fibre2Fashion)
 
Indian fashion retailer Raymond Group says that textile and apparel retailing in the country could see growth as high as 12% in the next fiscal year. The head of the group says that favorable policies instated by the government in recent months will put more discretionary income into the hands of Indian consumers and that much of this would be spent on apparel and textile products.(Fibre2Fashion)
 
The Apparel Export Promotion Council (AEPC) says that a recent decision by the government to reduce the number of mandatory documents for importing and exporting is a positive move for garment exports. In a recent statement, AEPC Chairman Viernder Uppal said that the group has been pushing for paperwork reductions for a while and that this recent move will go a long way toward improving the flow of exports out of the country. The policy will take effect on April 1.(Fibre2Fashion)
 
India’s Textile Ministry says it has approved US$3.1 million for the establishment of an Integrated Skill Development Scheme (ISDS) in the state of Haryana. The scheme is intended to provide youth in the state with textile skills that they can use to gain employment, including garment making, spinning, weaving, and handloom operation.(Fibre2Fashion)
 
The state of Chhattisgarh has proposed to build an Integrated Textile Park in the Tilda region near the state capital. The Chhattisgarh State Industrial Development Corporation (CSIDC) says that it will use funds granted by the national government to develop the park and is currently seeking proposals from groups and companies seeking to establish a presence in the new park. It is being marketed as a “one stop” facility for buyers of textile products.(Fibre2Fashion)
 
India has signed a Memorandum of Understanding (MoU) with Kyrgyzstan to cooperate in the textiles sector. The agreement aims to strengthen cooperation between the two countries in several fields, including textiles, clothing, silk, and sericulture, and will work to grow collaboration in trade and investment. The agreement was finalized during a recent visit by Kyrgyzstan’s Minister of Energy and Industry to India. (Fibre2Fashion)