Piyush Goyal: Textile industry to grow to $250 bn in 5 years
22 August 2022, Mumbai
The value of India’s textile industry can increase to $250 billion in the next 5-7 years and help the country become a developed economy, said PiyushGoyal, Textile Minister at the Asian Textile Conference (ATEXCON) organized by the Confederation of Indian Textile Industry.
Goyal also urged the industry to make the best use of the free trade agreements (FTAs) that India is entering into.
The minister stated that unless there is a significant ramp-up of India’s exports to these areas, it won’t get the satisfaction that it is doing the right thing. He emphasized greater and more visible outcome from the textile sector.
Referring to the memorandum of understanding (MoU) between CITI and Egyptian Cotton, Goyal said, the MoU will help both countries reduce the trust deficit between them
He urged the industry to introduce high-quality products and elementary products like zipping and embellishments that are currently being imported.
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