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Indian govt to procure jute, cotton at MSP if prices fall: Goyal

07 Mar '24
2 min read
Textile Minister Piyush Goyal interacting with textile beneficiaries. Pic: @PiyushGoyal/X (formerly Twitter)
Textile Minister Piyush Goyal interacting with textile beneficiaries. Pic: @PiyushGoyal/X (formerly Twitter)

Insights

  • India's Minister of Textiles, Piyush Goyal, announced the government's commitment to procure cotton and jute at the minimum support price (MSP) if market prices drop.
  • He highlighted efforts to boost jute and cotton production, providing quality seeds and fertiliser, and encouraged embracing 'vocal for local' while targeting global markets.
Government of India will procure cotton and jute harvests if their market prices fall below the minimum support price (MSP), Piyush Goyal, India’s Minister for Textiles, said during his interaction with beneficiaries of textile sector in Delhi on Wednesday.

He added that the government is working towards increasing the production of jute and cotton and is willing to provide quality seeds, fertiliser for quality produce to fulfil the vision of farms to foreign exports.

Minister Goyal also called upon textile beneficiaries to embrace the ethos of 'vocal for local' while aiming to globalise their products and emphasised the importance of local craftsmanship reaching global markets, aligning with Prime Minister Narendra Modi's vision.

Advocating for the enhancement of the textile sector's production capabilities, he highlighted its potential to generate employment, boost incomes, and contribute to India's self-reliance. He encouraged artisans to leverage the Government e-Marketplace (GeM) and major e-commerce platforms to amplify their visibility and sales, emphasising that no registration fee would be required for artisans and weavers on GeM, the Ministry of Textiles said in a press release.

Goyal called for a united effort towards technological advancements within the textile sector to ease the operational challenges faced by artisans and weavers, boosting their productivity and earnings. He underscored the importance of quality and packaging in enhancing the brand value of Indian textile products on the global stage.

The gathering also focused on the protection of authentic 'Handmade in India' products, with Goyal stating that businesses misrepresenting machine-made goods as handmade would face penalties. This stance is to safeguard the integrity and recognition of India's handicraft and handloom sectors.

The interaction, marked as the Ministry of Textiles' largest-scale beneficiary meet, saw participation from nearly 10,000 stakeholders across various sectors, including handloom, handicraft, jute, and silk, from 398 centres nationwide.

Fibre2Fashion News Desk (KD)

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