India must aim to treble textile exports at the earliest: Piyush Goyal

03 Sep '21

2 min read

Pic: PIB

India must aim to raise textile exports by three times from the present value of $33 billion to $100 billion at the earliest, according to textile and commerce & industry minister Piyush Goyal, who today urged textile industry leaders to resolve to achieve the target of $44 billion in exports of textiles and apparel, including handicrafts in fiscal 2021-22.

The minister said the textile ministry is working with the finance ministry to resolve the issue of old dues on incentives for exporters.

The PLI scheme for textiles and the MITRA Parks Scheme are at advanced stages of approval, he was quoted as saying in an official release.

He urged industry leaders to hand-hold small exporters and guide them. He met various stakeholders at a meeting organised by the ministry of textiles with the theme ‘Local Goes Global—Make in India for the World’.

During another meeting with Export Promotion Councils (EPCs), Commodity Boards and other authorities and stakeholders in Mumbai to discuss measures to enhance and increase exports, Goyal exhorted all EPCs to take immediate steps to rise to the challenge of achieving the merchandise export target of $400 billion for this fiscal.

India targets $2 trillion exports by 2030, comprising $1 trillion merchandise exports and $1 trillion services exports.

Goyal said India is looking at identifying areas of immediate interest for India and the United Kingdom, and conclude an early harvest agreement. Australia has shown the highest level of engagement and has shown significant interest for a similar agreement, he informed.

The European Union has also agreed to once again engage in negotiations for a free trade agreement. India will be working hard to speed this up, he added.

Fibre2Fashion News Desk (DS)

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