The Australian government has approved the Post-2005 Strategic Investment Program Scheme (SIP) for the revival of textile, clothing and footwear industry worth A$575 million ($447.5 million). The non-competitive grant scheme will focus on promoting investment in new TCF plant or equipment and innovation in Australia and will replace the current scheme which expires on 30 June 2005.

The scheme is complemented by the $50 million ($38.9 million) Structural Adjustment Program and the $50 million ($38.9 million) Product Diversification Scheme. The government’s total $747 million ($581 million) package also includes a $27 million ($21 million) extension to the Expanded Overseas Assembly Provisions Scheme, the $25 million ($19.4 million) Small Business Program and the $20 million ($15.6 million) Supply Chain Program, which commences in 2010.

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