The Central government would address all issues in its new National Textile Policy which is likely to be announced in a couple of months, Union Textile Secretary Ravi Capoor has said.

This was announced on Wednesday during an interactive session with captains of the textile industry in the region. Capoor said the policy would ensure basic raw materials availability at international price and encourage scale-up of operation by developing 10 mega textile parks with over 1,000 acres of land closer to the ports, among others.

The new policy would address power cost, credit cost and its availability and expedite conclusion of the free trade agreements with EU, the UK and other countries to boost exports, a press release from the Confederation of Indian Textile Industry (CITI), which organised the session, quoted Capoor as saying.

He exhorted the textile industry, especially in Tamil Nadu, to diversify into polyester segment to boost exports. The global textiles market of cotton and man-made fibre is in the ratio of 30:70 while it was the reverse in India.

Of the total textile exports, cotton textiles accounted 80 per cent due to the price advantage of the homegrown cotton, while it is only 20 per cent in the man-made fibre segments due to the expensive raw material.

Capoor asked Tirupur Knitwear Cluster to brand its garments and products under sustainable programme that might fetch a larger margin globally and the government would extend necessary support to promote the brand.

CITI chairman T Rajkumar said the government has identified the textile industry as the thrust area and in real terms Make in India facilities without any imports right from fibre to finished goods, ensures inclusive growth by providing jobs.

Published On : 13-02-2020

Source : Money Control