The Indian government has undertaken several reforms to promote the growth of the textile and garment industry in the country.
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Some of the key reforms include:
- Technology Upgradation Fund Scheme (TUFS): This scheme was introduced to provide financial assistance to textile and garment manufacturers for upgrading their technology and machinery.
- Scheme for Integrated Textile Parks (SITP): The SITP was launched to promote the development of textile parks, which provide world-class infrastructure and facilities to textile manufacturers.
- Amended Technology Upgradation Fund Scheme (ATUFS): This is a revised version of the TUFS, which aims to provide financial assistance to textile manufacturers for the adoption of new technology and machinery.
- National Textile Policy: The government introduced the National Textile Policy in 2000 to provide a framework for the development of the textile and garment industry.
- Goods and Services Tax (GST): The introduction of the GST in 2017 aimed to simplify the taxation system and reduce the compliance burden on textile and garment manufacturers.
- Production Linked Incentive (PLI) Scheme: The PLI scheme was launched in 2020 to provide incentives to manufacturers for increasing production and exports of textile and garment products.
- Make in India initiative: The Make in India initiative aims to promote domestic manufacturing and increase the share of manufacturing in the country’s GDP. The textile and garment industry is one of the key focus areas of this initiative.
Overall, these reforms aim to enhance the competitiveness of the textile and garment industry in India, increase domestic production, and boost exports.