Piyush Goyal: Textile Industry's role pivotal in making FTAs a success
18 August 2022, Mumbai:
Free trade agreements (FTAs) with the developed world are an important agenda of the Modi government: Goyal.
Piyush Goyal calls upon the Textile industry to focus on innovation and sustainability to drive growth.
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Union Minister of Textiles, Commerce & Industry, Consumer Affairs and Food & Public Distribution, Piyush Goyal said that Textile Industry has a big role to play in making Free Trade Agreements a success. Delivering the Keynote address at the 10th Asian Textiles Conference TEXCON on the theme- 'Reimagining the Textile and Apparel Industry for the next Decade', he said that FTAs with Developed Countries is high on the agenda of Modi Government.
Piyush Goyal, Textile Minister said that innovation is going to be the defining feature in India's march towards becoming a Developed Nation. He highlighted the role of innovation across all value chains in the Textile sector and also urged the Textile sector to focus on recycling and digitization. He said if the industry focuses on innovation, sustainability, digitisation, newer products and utilisation of Free Trade Agreements (FTAs), it can grow fast and compete with the best in the world.
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Speaking on sustainability, Goyal said that textile sector can reduce the pressure on the environment by using reusable resources as well as reduce its own production costs.
Piyush Goyal said that digitization is another area that can help optimize the entire value chain in the sector.
Referring to PM’s independence speech where he referred to Panch Pran of Goal of Developed India.
CITI and Egyptian Cotton also signed a Memorandum of Understanding (MOU) in the presence of the Ministry of Textile, Piyush Goyal. Both the industry bodies will work together for mutual benefits.
T. Rajkumar, chairman of the Confederation of Indian Textile Industry (CITI) in his welcome address said that the global textile industry is witnessing a reshuffle of the entire supply chain including the countries from which apparel is sourced. Terms like ‘China Plus One’, re-shoring, onshoring, etc are being commonly heard in interactions across the textile value chain.
(PIB report)...The news article has not been edited by DFU Publications
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