At an international conference on textiles and apparel hosted by the Confederation of Indian Industry (CII), the government has set an “ambitious” target of $ 100 billion in textile and garment exports over the next five years, said Darshana, Minister of State for Textiles. Vikram Jardosh said. ) soon.
She urged the industry to take advantage of the global market shift, where China is cutting market share in the labor-intensive segment.
According to the Ministry of Textiles, India’s textile and related product exports in 2020-21 were $ 30.4 billion, down 10% year-on-year due to the pandemic. Exports increased 87% year-on-year to $ 16.6 billion, supported by a strong economic recovery in key markets.
“We are committed to ensuring the implementation of all development plans and introducing more plans to pursue this aspiration,” she said in a media report in India. ..
Earlier this month, the Cabinet approved a plan to encourage investment in establishing megatextile parks to scale up in fragmented sectors. It followed an incentive scheme linked to the production of 10,683 rupees for artificial textiles and technical textiles.
Fiber2Fashion News Desk (DS)
Indian textiles export value of related products in 2009 is 30.4 billion dollars
Source link Indian textiles export value of related products in 2009 is 30.4 billion dollars