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What is the textile industry specifications by Government in 2018 ?

The Indian textile industry is involved as the most significant industry in Indian Economics. Indian textile industry is considered important from the both point of views - handwoven mills and handloom sector of textiles. India is the second largest mill of textiles and its capacity is more than 8 lakh rotators. The Government is doing more efforts for the export promotion in the handicraft industry like - Government is implementing the employee provident fund in which 3.5% contribution will be done by the employer for the new workmen in the mill. It will be applicable to on the workmen whose monthly income is less than 15000. For the seasonal textile industry, the newly fixed garment sector will be opened for craftsmen and the new employment and wage rates will be implemented by the Government. Additional incentives will be implemented, and the 15-20% employment rate is determined to welcome to all the newcomers in the handicraft and textile sector. Government also organizes the handicraft and textile events at yearly basis. Like in 2017, the handicraft fair was organized in Gandhinagar of Gujarat to showcase the India’s incredible handicraft and textile series. The event was a huge success in which more than the representatives of 100 big world companies participated. There is an MSP determined for the cotton industry which is a basic raw material for the handicrafts and India is the top cotton producer in the world which is a boon for the textile industry of India.Hope you have liked this post ! Thanks for reading the post !