Ministry of Textiles approved a total of 18 Research and and Development projects worth Rs 46.74 crores across different areas of technical textiles, an official statement said on Thursday.
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These projects fall in the areas of Agrotextiles, Speciality fiber, Smart textiles, Activewear textiles, Strategic application areas, Protective gear apparel and Sports textiles.
"Consequently, the existing GST rates in the textile sector would continue beyond 1st January, 2022," the Finance Ministry said.
It is also expected to bring about additional production turnover of over Rs 3 lakh crore during the period and create employment opportunities of over 7.5 lakh people directly and several lakhs more for supporting activities, as per the government.
Goyal said the government wants to promote Brand India and Indian textiles, which have earlier played an important role in building Brand India, will again play a key role.
Taking the average monthly exports during the last fiscal, the shipment of diversified jute products was estimated to cross Rs 600 crore.
Interior designing is one of those job arenas that are steadily rising in demand in modern times.
