Govt eyes $10-billion technical textiles exports in 3 years

Commerce and industry minister Piyush Goyal on Friday said it was time for India to target a five-fold rise in its annual technical textile exports in there years to $10 billion. After decades of policy bias toward cotton-based textile products, the government recently made concerted efforts to boost manufacturing of technical textile items through a Rs 10,683-crore production-linked incentive scheme. Under this, incentives will be provided for five years for incremental production in 40 man-made-fibre (MMF) garments, 14 MMF-based fabrics and 10 technical textile segments.
Speaking to representatives of the Indian Technical Textile Association in Delhi, Goyal highlighted that the technical textiles segment has gained momentum in the past 5 years and is currently growing at 8% per annum. “Our aim is to hasten this annual growth to 15-20% range during next 5 years,” Goyal said.

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