Business Standard

Monday, December 23, 2024 | 06:39 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

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

Image

Capital Market
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.

Powered by Capital Market - Live News

 

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Oct 28 2022 | 11:47 AM IST

Explore News