The Union Minister of Textiles Smriti Irani has said that the ministry is working on a structure to roll out Production Linked Incentive (PLI) scheme for technical textiles and Man Made Fibre (MMF).
The minister also said that the new textile policy is on the anvil.
Addressing Assocham Foundation Week 2020, she said that MoT is currently on the anvil of also bringing to the fore the new Indian textile policy; the last time India had a textile policy was two decades ago.
She also said that in this season, in the cotton segment MSP operations worth Rs. 14,659 crore have already been undertaken and 9.63 lakh farmers producing cotton in the country have directly received into their bank accounts an amount of Rs. 11,799 crore; what’s worth noting is that this is done in only 2 months.
“If you look at extra-long staple (ELS) cotton, we currently produce only 4 lakh bales. Looking at the agricultural reforms, if the industry conjoins its efforts with farming community and we raise the potential growth of production of ELS cotton from 4 lakh bales to 50 lakh bales, then the impact on the Indian cotton textiles industry will be such that we will increase our businesses from the current US $ 18 billion to US $ 80 billion. That’s the potential that needs to be leveraged and explored,” the minister stated.
Bharat Tex Special Report 2026 
