Govt begins industry consultations

The country’s textile sector is under stress as it faces competition from Bangladesh, Vietnam and Pakistan, among other countries, that produce and export at cheaper costs. The textiles ministry started consultations on New Textiles Policy, which...

Getty Images
Exports of cotton yarn, made-up textile articles and handloom products declined 3.65% on year in November, while those of readymade garments fell 6.5%.
New Delhi: The government has set the ball rolling to bring back the lost glory of one of India’s largest employers - the textile sector – with an emphasis on generating jobs.

The textiles ministry has started consultations on the New Textiles Policy, which will include a vision to position India as a “fully integrated, globally competitive manufacturing and exporting hub” and an action plan for the country’s textile and apparel sector.

One round of consultations on manmade fibre has been held and the next round will begin soon, industry officials said.


The country’s textile sector is under stress and the domestic industry faces competition from Bangladesh, Vietnam and Pakistan, among other countries. Exports of cotton yarn, made-up textile articles and handloom products declined 3.65% on year in November, while those of readymade garments fell 6.5%.

“The second round of consultations will begin soon. The government plans to roll out the policy early next year,” an industry representative said.

The ministry has sought suggestions for the policy. “The policy will be all-encompassing, looking at the entire spectrum of textiles, silk, handloom and exports but the focus is on employment generation and environment,” said another person aware of the development.
ADVERTISEMENT
Download
The Economic Times Business News App
for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App
for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
READ MORE
ADVERTISEMENT

READ MORE:

LOGIN & CLAIM

50 TIMESPOINTS

More from our Partners

Loading next story
Business News › News › Economy › Policy › Govt begins industry consultations
Text Size:AAA
Success
This article has been saved

*

+