Piyush Goyal, Union Minister for Commerce & Industry, Textiles has said that the aim is to increase textiles exports by 3 times from present export value of US $ 33 billion to US $ 100 billion at the earliest.
In a meeting with the textile industry leaders from across India in Delhi, the Minister said that all must collectively resolve to reach the target of US $ 44 billion of exports in 2021-22 for textiles and apparels including handicrafts. The textile sector is expected to surpass all past records.
Leading industry players across the supply chain and heads of various export promotion councils raised their various concerns/demands in the meeting.
“We can no longer be satisfied with small increments; it’s time for a quantum jump,” the Minister said.
In addition to increasing textile exports by 3 times, the Minister also stressed on enhancing domestic production to US $ 250 billon in a very quick time.
He informed that PLI Scheme for Textiles & MITRA Parks Scheme are at advanced stage of approval.
The Minister said that his Textile Ministry is working closely with Ministry of Finance (MOF) to resolve the issue of old dues on incentives for exporters.
He also added that industries that don’t depend on subsidies thrive much more.
“India has met all of its international service commitments, which has made us the trusted partner of the world,” he said.
The Minister also stated that textiles sector has the ‘Power, Promise & Potential’ to realise the goal of ‘Local goes Global – Make in India for the World.’
Team Apparel Resources was also present in the meeting and had a discussion with Minister of Textiles, Secretary Textiles UP Singh.
Stay tuned for the detailed coverage.