Special package for employment generation and promotion of exports in Textile and Apparel sector

Approval for a special package for employment generation and promotion of exports in Textile and Apparel sector.

The package Benefits

• Measures which are labour friendly and would promote employment generation, 
• Economies of scale and boost exports. 
• The steps will lead to a cumulative increase of US$ 30 bn. in exports and 
• Investment of Rs. 74,000 crores over next 3 years.

The majority of new jobs are likely to go to women since the garment industry employs nearly 70% women workforce. Thus, the package would help in social transformation through women empowerment.

Salient features of the package announced are:

1. Employee Provident Fund Scheme Reforms
2. Increasing overtime caps
3. Introduction of fixed term employment
4. Additional incentives under ATUFS
5. Enhanced duty drawback coverage
6. Enhancing scope of Section 80JJAA of Income Tax Act