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

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 cotton's 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 year's estimated US$ 42 billion. He stated that, if successful, the sector's total economic valuedomestic and foreignwill be US$ 250 billion.

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