GoI Initiatives in Indian Textile Exports, A Synergy for Growth
Eastman Exports Global Clothing Pvt Ltd.,
A pioneer apparel manufacturer in India: One of the leading Apparel manufacturers in India, at the forefront of design.
Indian textile industry is a dynamic force weaving a rich tapestry of tradition and innovation. Central to its success is the harmonious collaboration between government policies and stakeholders’ industriousness, exemplified by companies like ours.
For Eastman Exports, the synergy with government initiatives is not just about reaping the benefits. It is a testament to our commitment to aligning with the national vision. We believe in adopting and adapting to these initiatives. This alignment has amplified our growth, expanded its capabilities, and elevated its quality standards.
A Landscape of Government Support
Indian textile industry is nurtured by an array of government initiatives, ranging from incentives to regulatory reforms. These policies have sown the seeds of progress for Eastman Exports that have been quick to harness the potential of these initiatives.
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Opening New Horizons with 100% FDI
Indian government's welcoming stance towards foreign investments has been instrumental. With 100% FDI allowed in textiles through the automatic route, the sector has seen a surge in international collaboration. Eastman Exports has leveraged this opportunity to expand its global reach and bring innovation into its manufacturing processes.
Fuelling Growth with PLI Scheme
The Production-Linked Incentive (PLI) Scheme, with an impressive allocation of INR 10683 crore, has breathed new life into the man-made fiber and technical textiles sector. Eastman Exports has embraced this scheme, boosting its production capabilities and reinforcing its commitment to quality.
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Enhancing Clarity with Uniform GST
The implementation of a uniform 12% GST rate on man-made fabrics (MMF), MMF yarns, and apparel from the year 2022, has added a layer of simplicity and clarity. This reform benefits both businesses and consumers. Eastman Exports has adjusted seamlessly to this tax uniformity, enhancing transparency and efficiency.
A Vision of Growth through Investment
Indian government's commitment to the textile sector is reflected in its support for research and development. In June 2023, the government approved R&D projects worth INR 61.09 crore in the textile sector.
Private Equity and Employment Boost
The Union budget of 2023-24 unveiled substantial funds, including INR 900 crore, for the Amended Technology Upgradation Fund Scheme (ATUFS). This initiative is not only encouraging more private equity investments but also providing a vital boost to employment opportunities. Eastman Exports is keenly aligned with the government's mission to stimulate growth and job creation.
Eastman Exports Approach
As one of the leaders in the Indian textile industry, Eastman Exports thrives in a landscape of government support. This signifies a partnership that exemplifies the power of collaboration between the public and private sectors. We believe this partnership will weave a bright future for the Indian textile industry and contribute to the nation's economic growth.
Apparel | Manufacturer | Exporter We Manufacture western wear apparels, looking foward to connect with potential buyers
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