Budget 2018: Boost for textiles exports with Rs 71.48-bn special package

Textiles exports from India are likely to get a boost with the increase in the special package for the financial year 2018-19.

Finance Minister Arun Jaitley in the Union Budget 2018-19 raised special package by 19 per cent to Rs 71.48 billion for apparel sector to boost exports. In 2016, the government had announced a special package of Rs 60 billion for the same purpose.

Rahul Mehta, President of Clothing Manufacturers Association of India (CMAI) said that the increase in the outlay looks prima facie was positive but, it is yet to be seen how impactful the enhanced outlay would be for the entire apparel value chain, he added.