India to achieve $100 bn textile export target by 2030: Union Minister Piyush Goyal

New Delhi, Dec 15 (KNN) The Commerce and industry minister Piyush Goyal on Wednesday said that India is on the right path to achieve the USD 100 billion textile exports target by 2030.

Addressing the two-day textile conclave in Varanasi, Goyal said “With the FTAs, we insist that we get duty free access for textiles and in both UAE and Australia, the textile sector assures me that there are opportunities for both. We are working on other FTAs that will help the textile sector.”

"The UK FTA, for example, has 9-12 per cent import duties on different items. If that goes away, it will certainly give a big boost to our textile industry," he said.

Goyal further pointed out that in the textiles sector, margins of 4-5 per cent are important to become competitive.

India is negotiating an FTA with the UK and has already implemented one such agreement with the UAE. The FTA with Australia will come into effect from December 29.

During his address, Goyal also highlighted that 18 proposals have been received from different states for Mega Integrated Textile Region and Apparel (PM MITRA) parks and the decision will be finalised by the government after the Parliament session.  (KNN Bureau)