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Union Minister Smriti Irani on Thursday launched a scheme for development of knitting and knitwear sector under PowerTex India, which will be in operation up to March 31, 2020.
“The Ministry has approved combined SFC (Standing Finance Component) of PowerTex India Scheme and Knitwear Scheme with an outlay of ₹487.07 crore. “Out of this ₹439.35 crore is for PowerTex for three years from April 1, 2017 to March 31, 2020 and ₹47.72 crore for knitwear for the remaining period of 2018-19 and for 2019-20,” an official statement said.
The scheme envisages creation of new service centres on public private partnership (PPP) model by industry and association in the knitting and knitwear clusters.
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