Development scheme for knitwear sector launched

Development scheme for knitwear sector launched

1. The Ministry of Textile has launched a comprehensive Scheme for Development of Knitting and Knitwear Sector under PowerTex India. Knitting and knitwear sector is predominantly MSME in size and mainly located in decentralized sector. Knitted fabrics contribute to 27% of the total fabric production in India and 15% of knitted fabric is being exported.
2. The main components of the scheme are a) Creation of new service centres on Public Private Partnership (PPP) model by industry and association in the knitting and knitwear clusters, b) Modernization and Upgradation of existing power loom service Centres (PSCs) and institution run by Textile Research Associations (TRAs) and Export Promotion Councils (EPCs) Association in knitting and knitwear clusters, c) Group work shed scheme, d) Yarn bank scheme, e) Common facility centre scheme, f) Pradhan Mantri Credit scheme, g) Solar Energy Scheme and h) Facilitation, IT, awareness, studies, surveys, market development and publicity for knitting and knitwear units.
3. Launched in 2017, PowerTex India is a comprehensive scheme for power loom sector development. The components of the scheme are a) In-situ Upgradation of Plain Power looms, b) Group work shed scheme, c) Yarn Bank Scheme, d) Common Facility Centre, e) Pradhan Mantri Credit Scheme for Power loom Weavers, f) Solar Energy Scheme for Power looms, g) Facilitation, IT, Awareness, Market Development and Publicity for Power loom Schemes, h) Tex Venture Capital Fund and i) Grant-in-Aid and Modernisation & Upgradation of Power loom Service Centres (PSCs)