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NATIONAL TEXTILE POLICY 2000


In an attempt to globalise India’s textile sector and attract domestic and foreign investors, the Union Cabinet on November 2nd announced de-reserving the industry from the small scale segment and harmonisation of the duty structure.

Highlights of NTP 2000:

· Ready-made garments fully de-reserved from small scale

· Venture capital fund to be set up

· 24% FDI cap removed on garments

· 50% mandatory export obligation for garments removed

· Handloom Reservation Act and the Hank Yarn Obligation to stay

· Textile exports to be stepped up from the present level of $11 billion to $50 billion by 2010

· Garments exports to touch $25 billion annually

· Launch the technology mission on jute

· Private sector integrated textile complexes to be encouraged

· Shuttle-less looms to be increased to 50,000 from 8,000 looms by 2005

· Restructure AEPC and other export promotion councils

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