India Aiming To Increase Textile Exports To US$ 100 Billion Over Next Five To Six Years

28 Oct 2022 , 11:47 AM

The domestic textile manufacturers should start securing Cotton to meet their needs,according to Piyush Goyal, Union Minister of Textiles, Consumer Affairs, Food and Public Distribution and Commerce & Industry. He noted that all parties involved in the cotton industry should get together to discuss a strategy to ensure cottons traceability and a higher value for cotton products. He suggested holding a two-day meeting to discuss fresh suggestions for boosting the textile industry. Young people should make up at least 50% of the participants, and there should be participation from Quality Control of India (QCI), Commerce, DPIIT, Finance, Banking, and Export Insurance for a comprehensive engagement that allows for the discussion of overarching themes. According to the Union Minister, the target is to increase textile exports to US$ 100 billion over the next five to six years from last years estimated US$ 42 billion. He stated that, if successful, the sectors total economic value?domestic and foreign?will be US$ 250 billion.Powered by Capital Market – Live News