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We must achieve target of $ 44 bn of textile exports in 2021-22: Piyush Goyal

10/12/2021 at 8:56 PM

New Delhi, Dec 10: “We must achieve target of $ 44 bn of Textile exports in 2021-22”, said Piyush Goyal, Union Minister for Commerce & Industry, Textiles, Consumer Affairs and Public Distribution while interacting with the leaders of Textile Industry in India.

He said that government is always open to consider all industry requirements to ensure that targets are achieved. He said that Industries that don’t depend on subsidies thrive much more.

Goyal further stated that PLI Scheme for Textiles & MITRA Parks Scheme is going to benefit the Industry in a big way. 

Piyush Goyal said that India has met all of its international service commitments, which has made us the trusted partner of the world. It may be noted that India is showing signs of robust economic recovery. Total merchandise exports upto November 2021 is ~ $ 262 billion.

The Minister said that we can no longer be satisfied with small increments, its time for a quantum jump. It may be noted that Goyal had asked the Textile industry to aim for $ 100 billion exports in a quick time. The meeting was convened to review the progress being made.

Goyal said that exporters must back the expectations of the nation with their Effort, Expertise & Efficiency. They should explore new markets.

Goyal asked the participants and stake holders to especially take care of small exporters & guide them. The Minister added that government aims to provide a conducive ecosystem to explore our competitive & comparative advantage. These include simplification of laws, reduction of compliance burden, RoSTCL&RoDTEP notified, etc.

Goyal further stated that upcoming  FTAs with different nations  will provide new avenues to build a trade partnerships.

It may be noted that Ministry of Textiles has adopted a holistic development model of the sector supported by infrastructure  and cluster development, technical textile mission,  performance linked incentives and a zero rated tax policy on exports to restore India’s pride in the global textile market.

Prominent Textiles exporters, EPCs, industry leaders participated in the interaction held to discuss measures to boost manufacturing and enhance exports.

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