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Government launches Scheme for Development of Knitting and Knitwear Sector

Date: 01 March 2019 Tags: Commerce & Industry

Union Ministry of Textiles has launched comprehensive scheme for Development of Knitting and Knitwear Sector under PowerTex India Scheme. In this regard, ministry has approved combined SFC (Standing Finance Component) of PowerTex India Scheme and Knitwear Scheme with an outlay of Rs. 487.07 crore

Scheme for Development of Knitting and Knitwear Sector

  • It envisages creation of new service centres on public private partnership (PPP) model by industry and association in the knitting and knitwear clusters.
  • It also entails modernisation and upgradation of existing power loom service centres (PSCs) and institution run by Textile Research Associations (TRAs) and Export Promotion Councils Association (EPCs) in knitting and knitwear clusters.
  • Components of scheme: (i) Group work shed scheme, (ii) Yarn bank scheme, (iii) Common facility center scheme (iv) Pradhan mantra Credit Scheme (v) Solar Energy Scheme, and (vi) Facilitation, IT, awareness, studies, surveys, market development and publicity for knitting and knitwear units.

Knitting and knitwear sector

  • Knitting is a major segment in the entire textile value chain. It is predominantly MSME in size and mainly located in decentralized sector.
  • It is one of the major employment generator sector. It also has significant contribution on exports of textiles.
  • Knitted fabrics contribute to 27% of the total fabric production in India and 15% of knitted fabric is being exported.
  • Some of major clusters in knitted garment sector in India are Tirupur (Tamil Nadu), Ludhiana (Punjab), Kanpur (Uttar Pradesh) and Kolkata (West Bengal).
  • Tirupur is the most important export cluster, followed by Ludhiana. More than 90% of the garment is manufactured in Tirupur are exported.

PowerTex India Scheme

  • It is comprehensive scheme of Ministry of Textiles for power loom sector development. It aims to boost common infrastructure and modernise power loom sector in the country.
  • Its 9 components are: (i) In-situ Upgradation of Plain Power looms, (ii) Group Workshed Scheme (GWS) (iii) Yarn Bank Scheme, (iv) Common Facility Centre (CFC) (v) Pradhan Mantri Credit Scheme for Power loom Weavers (vi) Solar Energy Scheme for Power looms (vii) Facilitation, IT, Awareness, Market Development and Publicity for Power loom Schemes, (viii) Tex Venture Capital Fund and (ix) Grant-in-Aid and Modernisation & Upgradation of Power loom Service Centres (PSCs).
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