National Textile Policy likely by April: Gangwar

Mumbai, Feb 18 (IANS) Textiles Minister Santosh Kumar Gangwar on Thursday said the long awaited National Textile policy is nearing finalisation and is likely to be issued before the end of April.

Interacting with media persons after participating in the Make In India Week here, he said consultations with all stakeholders are in progress and he was confident that the new textile policy will be released during the budget session of parliament.

“The textile and apparel industry is one of the key sectors of India’s manufacturing segment as it contributes significantly to the economy in terms of employment generation, foreign exchange revenue and above all, its backward linkages to the rural economy that gives huge opportunities to millions of farmers, artisans, handloom and handicraft manufacturers,” the minister said.

He said India will be exporting around $185 billion of textile and apparel by 2025.

Considering the targeted growth in exports, Gangwar said India should be able to double the share of the global textile and apparel trade from the present level of 5 percent.

He said the dynamics of the market economy have thrown up both opportunities and challenges to the textile industry and different countries in the region have concentrated in areas where they have comparative advantage.

“Countries such as Bangladesh and Vietnam have entered the league of big players in the global market. The Indian textile industry should gear up to attain its desired position in the global market and the government is willing to provide all possible support by creating enabling frameworks,” the minister added.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here