ParliamentPosted at: Jul 29 2016 6:40PM Govt sets target to earn 48.5 billion dollars from export of textiles, clothingNew Delhi, Jul 29 (UNI) Government is planning to achieve a target of 48.5 billion dollars in current financial year by announcing a special package of Rs 6,000 crore which will boost employment generation and export of textiles and apparel, the Rajya Sabha was informed today.It is estimated that China’s present share in global export of textiles and apparel will decrease from 40 per cent to 33 per cent by 2025. This will open an opportunity of more than 150 billion dollars for other exporting nations, including India, to increase its exports.In a written reply, Minister of State for Textiles Ajay Tamta said the government has plans to make Textile sector more competitive in global market by providing export incentives under schemes like MEIS, Interest Subvention, MDA, MAI, Duty Drawback etc. Further, the special package announced recently is expected to boost competency of textile and apparel exports in international markets.Please log in to get detailed story.Tags: #Govt sets target to earn 48.5 billion dollars from export of textiles# clothing