The Indian Government is looking at value-added exports like fabrics, made ups and home textiles as exports of raw materials may not rise further due to increasing local demand.
The focus on key growth areas like ‘sustainable textiles’, ‘technical textiles’ and ‘natural fibres’ and high-end technology is the success mantra for the future growth of textile industry.
Sharing this, Upendra Prasad Singh, Textile Secretary, stated that the Government has commissioned schemes like PLI, MITRA Parks, GATI Shakti with a view to attract investments in the sector, reform infrastructure and address logistic bottlenecks.
He was addressing the industry after felicitating the winners of TEXPROCIL EXPORT AWARDS 2020-2021.
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The textile and apparel exports achieved the highest ever level in the year 2021-2022 with an export turnover of US $ 44.4 billion, growing by 40 per cent over the previous year.
During the same period, export of cotton textiles (including raw cotton) grew by 54 per cent, reaching a level of US $ 16.42 billion.
Industry strongly believes that in the next 5 to 7 years, Indian textile industry could expand in size to US $ 250 billion and achieve exports of US $ 100 billion.
Manoj Kumar Patodia, Chairman, TEXPROCIL, says that the import duty on cotton and the prices of Indian cotton needed to be regulated as they were higher than international prices. There is need to increase the RoDTEP rates in knitted fabrics and items under HS 9404 which were by definition home textiles, but were given lower rates than home textile items.
