New Textile Policy to Lay Roadmap For Next 15 Years

More opportunities in the textiles industry and Technotex would prove a milestone says Union Minister.

Published: 09th April 2015 08:00 PM  |   Last Updated: 09th April 2015 08:00 PM   |  A+A-

Textile1
By PTI

MUMBAI: A new textile policy is on the anvil  and it will lay the roadmap for the sector for the next 15 years, a top government official said. "The textile sector is the second largest industry sector after agriculture to create employment opportunities in the country. The new textile policy is on the anvil and it will lay the roadmap for the sector for the next 15 years," Union Minister Santosh Gangwar said after inaugurating the 4th International Exhibition - Technotex 2015 here.

The minister said that there would be a lot of opportunities in the textiles industry and that Technotex would prove a milestone. "This year, India's technical textile business is close to Rs 1 crore. In contrast, the international market stands at Rs 17 lakh crore," he said adding that it is a "sunrise" sector. The minister also said that development of cotton growing areas where farmers have been committing suicide, is a priority with government.

He said that the government has set a reasonable Minimum Support Prise (MSP) for cotton in the country. Pointing out that Maharashtra, Gujarat, Rajasthan, Tamil Nadu and Karnataka have been doing a commendable job in the area, he said that the government is keen to develop this sector in the East Coast as well for which it has created a fund. The government has announced setting up of 20 textile parks in the country and is now thinking of setting up mega parks now, he said. Gangwar said that though the government had lost focus on the textile sector for the last ten years, the industry stood up to the challenging business environment on its own and made a work in the world.

He also released a knowledge paper on 'Strategies to Build Global Competitiveness for Indian Textile Industry' and he also launched a Comprehensive Integrated Software Development (iTUFS) for Technology Upgradation Fund Scheme (TUFS) on the occasion.

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