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India: Textile exports must triple to 100 billion US dollars

India: Textile exports must triple to 100 billion US dollars

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  • Time of issue:2021-06-09
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(Summary description)New Delhi: The goal of the Indian textile industry is to triple its exports from 33 billion U.S. dollars to 100 billion U.S. dollars as soon as possible, the Minister of Commerce, Industry and Textiles Pius Goyal said on Friday.

India: Textile exports must triple to 100 billion US dollars

(Summary description)New Delhi: The goal of the Indian textile industry is to triple its exports from 33 billion U.S. dollars to 100 billion U.S. dollars as soon as possible, the Minister of Commerce, Industry and Textiles Pius Goyal said on Friday.

  • Categories:Company News
  • Author:
  • Origin:
  • Time of issue:2021-06-09
  • Views:0
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   New Delhi: The goal of the Indian textile industry is to triple its exports from 33 billion U.S. dollars to 100 billion U.S. dollars as soon as possible, the Minister of Commerce, Industry and Textiles Pius Goyal said on Friday.

   He said that the collective determination must be to achieve the goal of $44 billion in exports of textiles and clothing (including handicrafts) in FY22. Piusz Goyal said that the textiles and production-related incentive plans of the MITRA Park plan are in the late stages of approval.

   He also said that the production-linked incentive plan for the technical textiles and man-made fiber sectors will soon be approved by the United Cabinet, which will promote domestic manufacturing and exports.

   Piusz Goyal said that the proposed large-scale investment textile park (MITRA) plan is in the late stages of approval, according to the plan, seven such parks will be established in the country in the next three years.

   The plan was announced in the 2021-22 federal budget.

   "I am very happy that the textile industry is committed to the idea of ​​achieving greater goals. We must achieve the US$100 billion export goal in the next five years," he said.

   Regarding free trade agreements, he said that India is interacting with different countries to speed up FTA or PTA (Preferential Trade Agreement).

   This kind of contact has been carried out with the United Kingdom, the European Union, the UAE, Australia and other countries.

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