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INDUSTRY & SERVICES

Policy Initiatives

National Textile Policy 2000

The Government has formulated a National Textile Policy (NTP) 2000 with the objective of facilitating the industry to attain and sustain a pre-eminent global standing in the manufacture and export of clothing. Through NTP 2000, the Government would endeavor to achieve the target of textile and apparel exports from the present level of US$11 billion to US$ 50 billion by 2010. The policy provides for setting up a venture capital fund for tapping knowledge-based entrepreneurs and assisting the private sector to set up specialized financial arrangements to fund the diverse needs of the textile industry.

Vision of the policy

Endowed as the Indian Textile Industry is with multifaceted advantages, the policy of the Government is to develop a strong and vibrant industry that can:

  • Produce cloth of good quality at acceptable prices to meet the growing needs of the people;
  • Increasingly contribute to the provision of sustainable employment and the economic growth of the nation; and
  • Compete with confidence for an increasing share of the global market.

Objectives of the policy

The objectives of the policy are to:

  • Facilitate the Textile Industry to attain and sustain a pre-eminent global standing in the manufacture and export of clothing;
  • Equip the Industry to withstand pressures of import penetration and maintain a dominant presence in the domestic market;
  • Liberalise controls and regulations so that the different segments of the textile industry are enabled to perform in a greater competitive environment;
  • Enable the industry to build world class state-of-the-art manufacturing capabilities in conformity with environmental standards, and for this purpose to encourage both Foreign Direct Investment as well as research and development in the sector;
  • Develop a strong multi-fibre base with thrust of product upgradation and diversification;
  • Sustain and strengthen the traditional knowledge, skills and capabilities of our weavers and craftspeople;
  • Enrich human resource skills and capabilities, with special emphasis on those working in the decentralised sectors of the Industry; and for this purpose to revitalise the Institutional structure;
  • Expand productive employment by enabling the growth of the industry, with particular effort directed to enhancing the benefits to the north east region;
  • Make Information Technology (IT), an integral part of the entire value chain of textile production and thereby facilitate the industry to achieve international standards in terms of quality, design and marketing and;
  • Involve and ensure the active co-operation and partnership of the State Governments, Financial Institutions, Entrepreneurs, Farmers and Non-Governmental Organisations in the fulfillment of these objectives.

Full text of the policy

Natonal Jute Policy 2005

The Government has announced comprehensive National Jute Policy 2005 with a view to develop a strong and vibrant jute sector. The policy enunciates that the approach for the jute sector will be directed towards reviving the jute economy through supportive measures such as research and development, technology upgradation, creation of infrastructure for storage and marketing of raw jute and product and marketing development activities for jute and diversified jute products.

Vision of the policy

Endowed as the Indian Jute Sector is with multifaceted advantages, it shall be the policy of the Government to develop a strong and vibrant sector that can:

  • Ensure remunerative prices to the jute farmers in the country;
  • Produce good quality fibre and products to meet the growing needs of the country and international buyers;
  • Increasingly contribute to the provision of sustainable employment and the economic growth of the nation; and
  • Compete with confidence for an increasing share of the global market.

Objectives of the policy

The objectives of the policy are to :

  • Enable millions of jute farmers to produce better quality jute fibre for value added diversified jute products and enable them to enhance per hectare yield of raw jute substantially;
  • Facilitate the Jute Sector to attain and sustain a pre-eminent global standing in the manufacture and export of jute products;
  • Enable the jute industry to build world class state-of-the-art manufacturing capabilities in conformity with environmental standards, and, for this purpose, to encourage Foreign Direct Investment, as well as research and development in the sector;
  • Sustain and strengthen the traditional knowledge, skills, and capabilities of our weavers and craftspeople engaged in the manufacture of traditional as well as innovative jute products;
  • Expand productive employment by enabling the growth of the industry;
  • Make Information Technology (IT), an integral part of the entire value chain of jute and the production of jute goods, and thereby facilitate the industry to achieve international standards in terms of quality, design, and marketing;
  • Increase the quantity of exports of jute and jute products by achieving a CAGR of 15 per cent per annum;
  • Involve and ensure the active co-operation and partnership of State Governments, Financial Institutions, Entrepreneurs, and Farmers’ Organisations in the fulfillment of these objectives.

Full text of the policy

Foreign Direct Investment Policy

As per the present policy of Government of India, 100 percent FDI is freely allowed in spinning, weaving, processing, garments and knitting sector under the automatic route for both new ventures and existing companies except in cases where industrial license is required on account of location of such units falling in a locatioanlly restricted area. In respect of such proposals, government approval is required.

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