India, March 10 -- The Union Textile Ministry has launched a comprehensive scheme for the development of the knitwear sector under PowerTex India. Apart from financial incentives, the two key interesting elements are yarn bank and financial assistance for the solar energy scheme. The scheme was launched simultaneously in three major clusters, Tiruppur, Ludhiana, and Kolkata.
Industry representatives said the scheme would help in achieving the vision target of Rs 1 trillion by 2022. The sector accounts for 27 per cent of the total cloth production and about 15 per cent of the knitted fabric is exported.
Raja M Shanmugham, President, Tiruppur Exporters Association said the scheme would be highly supportive through financial assistance and b...