Union Minister Goyal exhorts Textile sector to aim for exports of $100 bn in next 5 years

New Delhi, Oct 27 (KNN) The Indian textile sector has a target of 100 billion USD to achieve in the next 5-6 years, said Piyush Goyal, Union Minister of Textiles, Consumer Affairs, Food and Public Distribution and Commerce & Industry on Wednesday.

While addressing the video conference with members of Export Promotion Councils, Goyal said that if the target is achieved, the economic value of the sector will be 250 billion USD collectively for domestic and international.

The virtual meeting was convened with senior representatives of all the 11 Export Promotion Councils under the Ministry of Textiles.

During the meeting, Goyal also highlighted that the textile manufacturers should start securing Cotton to meet their demands. 

“Besides, all those involved with Cotton industry should meet to discuss the strategy to ensure traceability of cotton and better value of the cotton products,” he said.

Goyal at the meeting also introduced Rachna Shah, IAS with the EPCs, who will be officially taking charge as Secretary Ministry of Textile on November 1st, 2022 after superannuation of UP Singh, Secretary Textile on October 31st, 2022.

The commerce minister further said that funds are available under Textile Mission and should be utilized in new projects. 

He added the potential of Textile Sector may be showcased in G-20.  (KNN Bureau)