Union Minister of Textiles, Commerce & Industry, Piyush Goyal has said that textile manufacturers should start securing cotton to meet their demands. Besides, all those involved with cotton industry should meet to discuss the strategy to ensure traceability of cotton and better value of the cotton products.
The Minister also said that funds are available under Textile Mission and should be utilised in new projects. He added that the potential of the textile sector may be showcased in G-20.
He was addressing a video conference convened with senior representatives of all the 11 Export Promotion Councils (EPCs) under the Ministry of Textiles (MoT). Apart from that, leading trade bodies of the textile and apparel industry also participated in the meeting.
The Minister said that a two-day meeting should be organised to discuss new ideas on strengthening the textile sector. At least 50 per cent participants should be youngsters and there should be involvement of Quality Control of India (QCI), Commerce, DPIIT, Finance, Banking Export Insurance for holistic engagement so that overarching themes may be discussed.
The Union Minister said that last year, textile exports was approximately US $ 42 billion while the target is to achieve US $ 100 billion by next 5-6 years. He mentioned that if achieved, the economic value of the sector will be US $ 250 billion collectively for domestic and international.
