“As textile and apparel industry is moving towards automation, the industry is unlikely to create more jobs along with the growth in the industry. “The expected job creation in the domestic textile and apparel sector would be 29 lakh in the next 5 years,” a joint study conducted by industry body Texprocil and EY said. As per a World Bank report, 69 per cent of the jobs in India are at a higher risk of being replaced by automation. New packageThe Cabinet had last month approved a Rs.6,000 crore package for textiles and apparel sector with an aim to create one crore new jobs in three years and attract investments of $11 billion. E&Y also said textile and apparel exports may post a CAGR of 9 per cent to touch $62 billion by 2021 from $40 billion in 2016.

Source: The Hindu July 03, 2016 20:37 UTC