Country launches Rs 477.2 million schemes for knitwear sector

Union Minister for Textiles Smriti Zubin Irani has launched a comprehensive program for the development of Indian knitting and knitwear sector under the PowerTex India scheme. The Rs477.2 million development scheme will be in operation till the end of March, 2020.

The total outlay for PowerTex India Scheme and the Knitwear Scheme is Rs4.87 billion. Of this, Rs4.39 billion is for power loom units for three years from April 1, 2017 to March 31, 2020 and Rs477.2 million for the knitwear scheme. Almost Rs1.7 billion was disbursed to the power loom sector till January 31, 2019.

Knitting is a major segment in the textile value chain, constituting 27% of the total fabric produced in India. Of the knitted fabric produced, 15% is exported. Some of the major knitwear clusters in India are Tripura, Ludhiana, Kanpur, and Kolkata, said the Textiles Minister.

The program for knitting and knitwear units, catering to domestic and exports markets, has eight components where the factories would get support to install machinery under group work shed scheme, buy yarn, go in for solar energy, have common facilities and create new service centres under public-private partnership mode.

Since the scheme is for knitting and knitwear units, stitching machinery can also be installed under the group work shed scheme, said K. Selvaraju, Secretary General, Southern India Mills’ Association (SIMA).

 

 
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