‘Time for quantum jump’: Piyush Goyal bats for $44 bn textile export in 2021-22

‘Time for quantum jump’: Piyush Goyal bats for $44 bn textile export in 2021-22

‘Time for quantum jump’: Piyush Goyal bats for $44 bn textile export in 2021-22

December 11, 2021

Category: General

Country: India

Union minister Piyush Goyal  (HT_PRINT)

Updated: 10 Dec 2021, 08:46 PM IST, 2 min read.

Exports account for 60% of the ₹55,000 crore Indian home textiles industry, which comprises products such as terry towels, bedsheets and spreads, pillow covers, curtains, rugs and carpets


Stating that India is showing signs of robust economic recovery, Union textile minister Piyush Goyal said on Friday that the country's target now should be to achieve $44 billion of textile exports in 2021-22.

“We can no longer be satisfied with small increments, its time for a quantum jump," said the minister. 

Goyal was interacting with the leaders of the textile industry in India when he asserted that India has met all of its international service commitments, making it a “trusted partner of the world".

“The government is always open to consider all industry requirements to ensure that targets are achieved," said the minister, adding that Production-Linked Incentive (PLI) scheme for textiles and MITRA Parks scheme is going to benefit the industry in a big way.

“We aim to provide a conducive ecosystem to explore our competitive and comparative advantage. These include simplification of laws, reduction of compliance burden, RoSTCL&RoDTEP notified, etc," added Goyal. 

He said that exporters must back the expectations of the nation with their effort, expertise and efficiency. "They should explore new markets."

He asked the participants and stakeholders to especially take care of small exporters and guide them.

Goyal had earlier in September asked the textile industry to aim for $ 100 billion exports in a quick time. 

The minister had then said that the Centre is in talks with state governments to help businesses get land, power and other utilities at attractive rates to set up mega textile parks.

“I am sure nothing less than $100 billion will satisfy any of you and certainly will not satisfy the government led by Prime Minister Narendra Modi. He is a person with very high expectations from the textile industry," said Goyal. 

Rating agency Crisil had said last month exporters of home textiles are set to report 20% surge in revenue in fiscal 2022.

Exports account for 60% of the ₹55,000 crore Indian home textiles industry, which comprises products such as terry towels, bedsheets and spreads, pillow covers, curtains, rugs and carpets.


Courtesy: https://www.livemint.com/news/india/time-for-quantum-jump-piyush-goyal-bats-for-44-bn-textile-export-in-202122-11639143958011.html

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