MUMBAI: The government has raised the annual export target for textiles from $36 billion to $43 billion in July 2013, 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 overtime 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 the textiles sector.
In 2007, the high-level committee on manufacturing competitiveness considered amendments in labour laws for enhancing competitiveness of textiles industry.
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