Union Textiles Minister Piyush Goyal has said that the decreasing yarn exports from India should be seen as a good sign for the country as that would make raw materials available for processing them into textiles and eventually into garments, creating jobs and opportunities in the sector.
“The rise in readymade garments and finished value-added products is really the strength of India that we want to encash,” said Piyush Goyal.
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Addressing an event, the Minister said that the Indian demand for yarn and for finished products are growing significantly, both in the domestic and export markets. If producers get better value in the Indian market, they would prefer to sell the yarn in India. It should be processed right up to the garment and that value addition is good for India.
He further added that whenever possible, we should encourage more finished goods to be exported from India. There is value addition that will create jobs, which will give opportunities to our entrepreneurs, to our start-ups. If at all the yarn export reduces, it’s a good sign.
