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New National textiles policy to be announced in July

YarnsandFibers News Bureau 2015-06-30 10:00:00 – Mumbai

The government to announce the new national textiles policy in July after the cabinet approval aims at creating 35 million new jobs by attracting foreign investment, Textile secretary S K Panda said on Mondy after inaugurating the 61st National Germent Fair in Mumbai.

Minister of State (Independent Charge) for Textiles Santosh Gangwar, who has been working on the long-delayed policy since he assumed office last year, however, did not give an exact time-frame within which the policy could be expected.

The Textiles Ministry is also working on getting State governments on board on the provisions of the proposed National Textile Policy.

An expert panel had submitted the draft of the new policy, which envisaged to address the concerns over lack of enough skilled work force and labour reforms. It also facilitates in attracting investments and providing a roadmap for the textile and clothing industry. The panel was constituted last year.

The government is also considering setting up in each of the seven nor-/east states a modern apparel garment manufacturing centres.

The Ministry of Textiles has also sought Rs 12,000 crore for the Technology Upgradation Fund (TUF) scheme for the ongoing 12th Plan (2012-17).

According to Clothing Manufacturers Association of India (CMAI) president Rahul Mehta due to improving US economy they are hopeful of achieving exports target of $18 billion this fiscal, up from $16.8 billion in previous year.

The textile policy wants to push exports to $300 billion by 2024-25 and create an additional 35 million jobs.

Textiles exports contribute more than 13 per cent to the country’s export basket. The textiles sector exported goods worth $41.57 billion in 2013-14.

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