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Annual Export Target for Textiles Raised from 36 to 43 billion dollars

In July 2013, Government has raised the annual export target for textiles from USD 36 billion to USD 43 billion following discussions with textiles export promotion councils in the backdrop of rupee depreciation and strong industry performance.The Ministry of Textiles has mooted a proposal for amendments in Factories Act 1948, seeking amendments in Section 59 – Extra Wages for Overtime and Section 64 – Power to Make Exempting Rules to provide for Over Time Wages at the rate of one-one quarter times of the regular rate and that the cap of 50 hours a quarter should be removed for textiles sector;

In 2007, the High Level Committee on Manufacturing Competitiveness considered amendments in labor laws for enhancing competitiveness of textiles industry. In 2005, the Factories (Amendment) Bill, 2005 seeking amendments under Section 66 of the Factories Act was introduced in Parliament on August 16, 2005. However, amendments under the Factories Act of 1948 were not be undertaken.

The information was given by the Minister of State in the Ministry of Textiles Smt. Panabaaka Lakshmi in a written reply in the Rajya Sabha.

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