Goyal Eyes $100 bn from Textiles Exports

· Aim to increase Textiles exports 3 times from present export value of $33 bn to $ 100 bn of Textiles exports at the earliest

· Working closely with MOF to resolve the issue of old dues on incentives for Exporters

· Government is always open to consider all Industry requirements

· India needs global players to compete on scale

· Industries that don’t depend on Subsidies thrive much more

· FTAs are progressing fast on many fronts

· Let's make our designs and products as gold standards in the world

· We must all collectively resolve to reach the target of $ 44 bn of exports in 2021-22 for Textiles & Apparel including Handicrafts"

· Enhance domestic production to $ 250 bn at the earliest

· PLI Scheme for Textiles & MITRA Parks Scheme - at advance stage of Approval

"We must aim to increase textiles exports 3 times from present export value of $33 bn to $ 100 bn of textiles exports at the earliest "said Piyush Goyal, Union Minister for Commerce & Industry, Textiles, Consumer Affairs and Public Distribution while interacting with the leaders of Textile Industry in India on 3 September, 2021. He said that we must all collectively resolve to reach the target of $ 44 bn of exports in 2021-22 for Textiles & Apparel including Handicrafts. Textile sector is expected to surpass all past records.

The Minister said that his Textile Ministry is working closely with MOF to resolve the issue of old dues on incentives for Exporters .He said that Government is always open to consider all industry requirements. He said that Industries that don’t depend on Subsidies thrive much more.

Mr. Goyal further stated that PLI Scheme for Textiles & MITRA Parks Scheme is at advance stage of Approval. He added that story of Indian Textile Industry and our weavers have been using centuries old knowledge, craft & techniques to create timeless fabrics. The level of artistry & intricacy is unparalleled. The world would have never experienced these products, if it hadn't been for our ‘Textile Exporters.’

The Minister mentioned that India has met all of its international service commitments, which has made us the trusted partner of the world. He added it may be noted that India is showing signs of robust economic recovery as the GDP in Q1 2021-22 grew by a phenomenal 20.1% and 90% growth was seen in total FDI inflow in 1st three months of FY 2021-22 as compared to same period last year. The Merchandise exports in August, 2021 is $ 33 bn, which is up by 45% over 2020-21 & up 27.5% over 2019-20 and merchandise exports for Apr-Aug, 2021 is $164 bn, up by 67% over 2020-21 & up 23% over 2019-20.

The Minister said that he was extremely proud of the achievements of Textile Industry. Mr. Goyal said that today, we must all collectively resolve to reach the target of $ 44 bn of exports in 2021-22 for Textiles & Apparel including Handicrafts. The Minister said that we can no longer be satisfied with small increments, its time for a quantum jump.

Mr. Goyal called upon the Industry to aim to increase textiles exports 3 times from present export value of $33 bn (i.e. Cross $ 100 bn of textiles exports) at the earliest and enhance domestic production to $ 250 bn as well in a very quick time Mr. Goyal said that exporters must back the expectations of the nation with their Effort, Expertise & Efficiency. They should explore new markets and also share market intelligence/demand info with others.

Mr. Goyal asked the Industry leaders to handhold small exporters & guide them. The Minister added that Government & Exporters are partners in India’s growth story and 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.

The Minister said that the Launch of Indian brand “Kasturi Cotton” with international fibre quality, has opened great new opportunities for Textile Industry to expand business opportunities.

Mr. Goyal further stated that he personally has been interacting with different nations to expedite FTAs/PTAs (UK, EU, Australia etc.). It will provide new avenues to build a loyal customer base.

The Minister said that Textiles sector has the Power, Promise & Potential to realise the goal of ‘Local goes Global - Make in India for the World’

Speaking on the occasion, Smt. Darshna Jardosh, Minister of State for Textiles and Railways said that Indian Textiles and Apparel industries should increase their efficiency. She also stated that textiles sector empowers the women as most of the women are engaged in this sector and earning their livelihood.

Secretary Textiles, U. P. Singh in his welcome address said that government and exporters are partners in India’s growth story and Ministry has adopted a holistic development model 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 and industry leaders participated in the interaction held to discuss measures to boost manufacturing and enhance exports.