The new Economic Cooperation and Trade Agreements with Australia and UAE would open infinite opportunities for textiles, handloom, footwear etc, said minister Goyal while delivering the keynote address at an event in New Delhi on Tuesday.

The minister mentioned that trade agreements would help in increasing exports from labour intensive industries.

Pointing out that the world today was looking for alternative manufacturing sourcing hubs owing to geopolitical reasons, the minister said that Indian textile industry is in a very sweet spot to grab this opportunity.

It may be noted that Indian textile sector accounts for about 10 per cent (approximately $43 billion) of India’s total merchandise exports. India is the largest producer of cotton with 23 per cent of global production, sustaining 65 lakh people directly and indirectly, Goyal said.

Listing the various interventions made by government for enhancing the productivity of cotton such as High-Density Planting System (HDPS), Drip Irrigation, rainwater harvesting, inter-cropping etc, the minister said that we must place greater focus on special varieties of cotton such as the Kasturi cotton.

Goyal also asked textiles and apparel industry to focus on sustainability and farmers to focus on natural methods of farming. He said that we must encourage innovation, research and development and asked farmers to work in collaboration with ICAR, Agri-Universities, IARI and Cotton Research Institutes.

Minister Goyal said this at the Golden Jubilee Celebrations of the 'Confederation of Indian Textile Industry- Cotton Development and Research Association' (CITI- CDRA) in New Delhi.

Fibre2Fashion News Desk (KD)