Government Brings in Labour Reforms via 6,000cr Textile Package

In a recent turn of events, the Union Cabinet has introduced certain changes in the labour laws of the nation, and has approved a significantly humongous package of Rs. 6,000 crore for the textile and apparel segment, in this effect.

The Centre Is Planning To Make It More Attractive For Exporters To Tap New Markets.

Given that the textile and clothing sector is the largest provider of employment, second only to agriculture, creating a whopping 4.5 crore jobs across the nation, both the textile as well as the commerce ministries are on the lookout for new strategies in an attempt to boost the exports..

Currently the Indian textile exports are heavily dependent on the developed nations i.e. the US & EU nations. However, the center is planning to attract the exporters to new markets, which have a great potential in store, such as Africa. This will subsequently help in expanding the geographical spread of the Indian textile and garment supplies.  While this move may not show instant results, it will definitely help the Indian markets in the long run.