Piyush Goyal envisions, India eyeing 5X exports of Technical Textiles from $2 bn to $10 bn in next 3 years

08 November 2021, Mumbai:

Hon'ble Textile Minister has exhorted the textile sector that," It is the Time to target Technical Textiles exports to shoot up by 5X from existing $2 billion level to $10 billion in 3 years by ushering in the new paradigm of growth trajectory, exhorts and motivates trade to move structurally in this regime, Piyush Goyal

Goyal reassures Centre's full commitment and to support the sector by serious of steps taken and work in progress in order to make this doable goalpost.

Steps such as Textile PLIs in States support the development and facilitating affordable infrastructure for Textile Manufacturing by making available cheap land and power to enhance the sector's competitiveness are in the right direction.

Goyal further asserts categorically the government focus by its continuous efforts of aligning with best standards & global practices in the Textile manufacturing thus bringing it on par with competing forces.

The Minister further suggests the strong need for successful (PPP) public-private participation besides urging the greater use of Government funds already available in Research & Development in Technical Textile to optimize the given resources.

Minister outlined the need of recognizing taking cognizance of Growth to be directed in the direction of high technology and indigenously innovated products as in low hanging fruits.

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