Textile Minister inaugurates 56TH IIGF
The Textile Minister, during the inaugural ceremony of 56th IIGF, highlighted the need to strengthen the Apparel Export Industry.
He expressed his confidence of achieving a double-digit growth in the exports shortly.
The Minister also informed that around Rs.18,000 crore have been allocated under the TUFS Scheme and the scheme would be notified within a week. The process of settling the old dues has already been started. Shri Gangwar said that given its employment and export intensity, apparel industry plays a significant role in country’s economy. Several new initiatives have been undertaken by Government to make development participative and inclusive.
Rashmi Verma, Secretary Textiles, stated that technology issues and non-existence of FTA with European Union, US and Canada were the challenges in the way of apparel exports.
She highlighted the need for bridging the gap in the value chain so that Indian exports comprise of apparels rather than cotton and yarns. Replying to another question relating to the new textile policy, the Secretary said that consultations are being held and she was hopeful that within a month the new policy would be placed before the Cabinet for approval.
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