New textile policy likely to be finalised in next three months

The new textile policy which is likely to be finalised in the next three months, aims to achieve $300 billion (over Rs 20 lakh crore) worth of textile exports by 2024-25 and create an additional 35 million jobs, a senior official said.

The draft textile policy that was finalized after consultation with stakeholders, they are now trying to incorporate international response and output from foreign players at the forthcoming Textiles India-2017 conference, which will serve as input to the new textile policy, said Textiles Secretary Anant Kumar Singh at an CII event held in Mumbai.

After having inputs, they will process and finalize the policy in next three months period. There is no harm in having wider consultation.

According to Singh, the Centre is organizing Textile India Conclave and Exhibition in Gujarat from June 30 to July 2, for the Indian textile and handicraft sector which will showcase the entire range of textile products from ‘fibre to fashion’. It will be inaugurated by Prime Minister Narendra Modi.

The three day event will include global conference with six themes, to be chaired by concerned Union ministers. The valedictory session will be presided by Union Finance minister Arun Jaitley.

The event will have over 1,000 stalls and will witness the presence of over 2,500 discerning international buyers, agents, designers, retail chains from across the world, and 15,000 domestic buyers.