The first ever mega international trade event for the textile sector ‘Textiles India 2017’, launch of PowerTex India to support 44 lakh workers/weavers, unlocking potential of Northeastern region in textiles and Cabinet’s approval of Scheme for Capacity Building in Textile Sector (SCBTS) are among the achievements of Indian Textiles Ministry in 2017.
Textiles India 2017, organised in Gandhinagar from June 30 to July 2, 2017 recorded participation from more than 100 countries. A total of 65 MoUs with an estimated value of more than Rs. 11,000 cr were signed during the event. PowerTex India was launched on April 1, 2017, with an outlay of Rs. 487 cr for three years to support 44 lakh workers/weavers. The scheme has components relating to loom upgradation, infrastructure creation and concessional access to credit. It has the potential to generate investments worth Rs. 1,000 cr, employment for 10,000 people and will also result in higher returns to powerloom units.
To unveil the potential of Northeastern region as a global investment destination, the govt.organised the first ever North East Investment Summit focusing on manufacturing in textiles and allied sectors at Shillong during January 29 – 30, 2017. The summit was attended by many Central Ministries, all NE states, Export Promotion Councils, industry associations and investors from India and neighbouring countries. 21 Memorandum of Understandings (MoU) to promote investment opportunities, business and R&D projects in NER were signed during the summit. On December 20, 2017, the Union Cabinet gave its approval for a new skill development scheme covering the entire value chain of the textile sector excluding spinning and weaving in organised sector, titled SCBTS from 2017-18 to 2019-20 with an outlay of Rs. 1,300 cr.