Additional capacities for polyester viz. Purified Terephthalic Acid (PTA) are being set up and lakhs of looms are also being installed by the downstream industry which is still fragmented.
It was informed in a meeting of industry representatives from across the value chain with the Minister of Textiles, Piyush Goyal.
The industry representatives said the expansion of production capacity of key raw materials for manufacturing of polyester viz. PTA and Monoethylene Glycol (MEG) is essential for increased production of downstream industry.
The Minister said that the major growth of textiles will come from Man-Made Fibre industry. He called upon the industry representatives and said that, “We should aspire to reach a stage where the entire demand is fulfilled by domestic supply, thus making the industry Atma Nirbhar.”
The industry representatives responded that they are very much hopeful of achieving the export of US $ 100 billion in the next 5 to 6 years.
