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India must aim to reach $33 billion worth of Textile Export – Piyush Goyal

New Delhi – “India must aim to increase textiles exports 3 times from present export value of $33 billion to $ 100 billion of textiles exports at the earliest “said Piyush Goyal, Union Minister for Commerce and Industry, Textiles, Consumer Affairs and Public Distribution while interacting with the leaders of Textile Industry in India.

Piyush Goyal 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. He said that we must all collectively resolve to reach the target of $ 44 billion of exports in 2021-22 for Textiles and Apparel including Handicrafts. Textile sector is expected to surpass all past records.

Piyush Goyal 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.

Piyush Goyal further stated that PLI Scheme for Textiles and MITRA Parks Scheme is at advance stage of Approval. He added that story of Indian Textile Industry and our weavers have been using century old knowledge, craft and 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.’

Piyush Goyal mentioned that India has met all of its international service commitments, which has made us the trusted partner of the world.  Piyush Goyal added that it may be noted that India is showing signs of robust economic recoveryas the GDP in Q1 2021-22 grew by a phenomenal 20.1 percent and 90 percent 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 around $ 33 billion, which is up by 45 percent over 2020-21 & up 27.5 percent over 2019-20 and merchandise exports for Apr-Aug, 2021is $164 billion,  up by 67 percent over 2020-21 and up 23 percent over 2019-20.

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

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

Piyush Goyal asked the Industry leaders to handhold small exporters and guide them. Piyush Goyal added that Government and 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 and RoDTEP notified, etc.

Piyush Goyal 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.

 Piyush Goyal said that Textiles sector has the Power, Promise & Potential to realise the goal of ‘Local goes Global – Make in India for the World’.

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