PM MITRA Parks To Generate Investments Of Around $6 Billion: CARE Ratings
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CARE Ratings Research Report
The Indian textile and apparel industry employs around 45 million workers and contributes 11%-12% of the country’s exports.
During FY22 (refers to the period April 01 to March 31), the size of Indian domestic textile and apparel industry is expected to be around $95 billion, while the export is expected to be around $38 billion.
Despite presence across the textile value chain, India has not been able to garner China’s declining share in global readymade garment exports in past few years.
In order to boost textile exports, to generate employment and to create level-playing field for Indian exporters in global market, the Government of India has already announced various incentives/ schemes and the PM Mega Integrated Textile Region and Apparel park is another step towards increasing competitiveness of Indian textile globally.
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