Coimbatore, Sept 1 (KNN) The Indian textile industry will soon regain its lost glory, and Tamil Nadu will be at the forefront of the revival, Union Minister for Textiles, Commerce and Industry Piyush Goyal said.

Speaking after unveiling the bust of independent India’s first finance minister, RK Shanmugham Chetty, Goyal said, "British destroyed the textile industry in the Coimbatore region for the growth of Manchester. The Manchester of India, Coimbatore, will be able to give back with interest post-FTA with the United Kingdom."

"Tamil Nadu had one-third of India’s textile business, a nearly 40 percent share in yarn production. Some exquisite designs have emerged from Tamil Nadu," he said.

Goyal added that the quality standards of cotton should be maintained through all the stakeholders: farmers, ginners, and spinners should come together to develop an ecosystem to improve quality standards further.

Replying to a query on the challenges faced by the textile industry, he said, "The world is going through challenging times. All developed nations, including the USA, are facing an economic recession. In this situation, I am proud that our textile industry continues to hold firm and is doing good work."  (KNN Bureau)