New Policy to be rolled out by mid -THE HINDU-15-02-2020

News:

The Central Government is expected to roll out a Textile Policy by the middle of this year, according to Ravi Capoor, Secretary of the Union Ministry of Textiles. “We are working on a policy. Hopefully by mid-year we should have the new policy,” Mr. Capoor told The Hindu on Thursday. On the measures to be taken to attract investments in textiles and clothing, he said the need for cost effectiveness is a major challenge.

The Ministry plans to develop 10 mega textile parks. India should be a destination for Foreign Direct Investment in textiles. ” The Ministry is talking to the States and a meeting will be held on Monday too. The Secretary was hopeful of textile and garment exports increasing this financial year compared to last year, when it was roughly $38 billion.

Indian exporters are largely cotton based. Another thrust area will be technical textiles. The Cabinet is expected to approve the National Technical Textiles Mission, announced in the Budget, soon.