Perfect Sourcing Magazine - January 2016

In this issue

2016 TO BRING BACK THE GLORIOUS DAYS?

A fresh year has already started and everybody is waiting to see how the year proves to be for the garment and textile sector of India. The year ended with good news about Amendment in Technology Upgradation Fund Scheme, under which a budget provision of Rs.17,822 crore has been approved, of which Rs. 12,671 crore is for committed liabilities under the ongoing scheme, and Rs. 5,151 crore is for new cases under ATUFS. The amended scheme is expected to attract investment to the tune of one lakh crore rupees, and create over 30 lakh jobs. There are many other changes that are being suggested by the Government of India which if happens will create a good environment for the industry. Other than this, measures are being taken to Integrate EDI software of customs and the textile committee so that online test reports can be generated and communicated.

Proposal for setting up a new textile laboratory of the textile committee at the Cochin port. The ministry of textiles has also referred several issues to the ministry of labour and employment to make labour laws flexible. The proposals include raising over-time limit for employees from 50 hours a quarter to 100 hours; relaxing restrictions on work during night for women in factories; revision of over-time wages at the rate of one-and a- quarter times of the regular rate. Also a customs clearance facilitation committee at all ports has been set up which is headed by the chief commissioner of customs and consists of stakeholders from all agencies pertaining to clearance of goods.

A movement is seen in activities of the Government, however it is too soon to predict whether these polices will make an impact and are introduced well on time.