The Government is implementing Power Tex India, a comprehensive scheme for power loom sector development.Under the scheme, existing plain powerlooms are upgraded to semi-automatic and shuttleless looms to improve quality and productivity, by providing financial assistance to powerloomunits. So far, more than 2.16 lakh looms have been upgraded in the country under the in-situ upgradation component of the scheme.
For implementing Amended Technology Upgradation Funds Scheme (ATUFS), a comprehensivei-TUFS software has been developed. Through the iTUFS software, the beneficiary units can directly upload their applications. The beneficiary units can also track their application at each stage of the process.
India is the second largest exporter of textiles in the world. During 2017-18, India exported cotton textiles volume at USD 1854 million to Bangladesh and USD 1020 million to China.During 2013-17, man-made fibre (MMF) exports of China have grown at a CAGR of 2%,while Indias MMF exports have grown by3% during the same period.
Source: Reuters, India Thursday, 02 August 2018