“The much-awaited package for the made ups sector approved by the Union Cabinet with the primary objective of creating large scale direct and indirect employment to employ upto 11 lakh persons over the next three years in this sector,” the Cotton Textiles Export Promotion Council (TEXPROCIL) Chairman Ujwal Lahoti said here.
Welcoming the package, Lahoti said, “This a positive move by the Government which will give a big boost to exports of made ups and also generate employment opportunities.”
Lahoti pointed out that this announcement has come as a relief to exporters of made ups who are passing through a difficult phase as their products face duty disadvantage in the main market of EU as compared to products from competing countries on account of preferential tariffs given to some of them.
The package includes similar measures given to apparels such as additional 10 per cent subsidy under Technology Upgradation Fund Scheme (TUFS), additional contribution under Pradhan Mantri Rozgar Protsahan Yojana (PMRPY) and the Rebate of State Levies (ROSL).
The made ups sector generates employment opportunities for women and in rural areas and the Government has recognised this potential while announcing the measures, he said.
The permissible overtime has been increased upto 100 hours per quarter and the employees’ contribution to EPF has been made optional for employees earning less than Rs 15,000 per month.
According to Lahoti, these measures will go a long way in bringing about labour reforms in the sector besides enhancing the benefits to the workers.
The Monster Employment Index stood at 240 in November, registering 9 per cent rise over the corresponding period last year. On a month-on-month basis, the index, however, witnessed a decline of 3.61 per cent.
According to the Monster Employment Index, with the ongoing recruitment season in colleges and re-entry of the PSUs for direct recruitment from top engineering colleges, online recruitment in this sector has witnessed a surge.
“The month of November marks the beginning of placement season in many top notch Indian engineering colleges. This is, therefore, reflected in the increased online hiring activities in the PSU sector, which hires top talent of these colleges in significant numbers,” Monster.com Managing Director (APAC & Middle-East) Sanjay Modi said.
The growth in production and manufacturing sector further declined in November owing to the surprise announcement of demonetisation of high currency notes causing notable problems for manufacturers.
Moreover, the IT industry is undergoing a phase of disruption and has witnessed diminishing growth figures for the past couple of months.
Of the 27 industry sectors monitored by the index, 25 sectors witness growth in online hiring activity in November compared to the year-ago period. Education sector (up 58 per cent) led all monitored industry sectors.
City-wise data showed metros taking a lead with Kolkata showing the steepest growth (up 24 per cent) closely followed by Ahmedabad (up 21 per cent). Among the tier-II towns, Coimbatore (up 17 per cent) and Chandigarh (up 13 per cent) have shown significant growth figures.
“As opposed to last few months where Tier-II markets outperformed the metros; the metros have performed significantly well with Kolkata being in the lead (up 24 per cent), while Delhi and Ahmedabad are up by 18 per cent and 21 per cent respectively,” Modi said.