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Related Keywords: annual conference, Indian textile sector, labour reform, Make in India brand, proposed new textile policy, Santosh Gangwar, Technology Upgradation Fund, Textile Ministry, Textile Park

Minister of State (Independent Charge) for Textiles Santosh Gangwar will discuss the provisions of the proposed New Textile Policy with States who will give their views on the proposals of a draft report on the New Textile Policy prepared by an expert committee which has already been circulated to them at the annual conference of State textiles ministers today.

Getting State Governments’ views on labour reforms is important as a number of important changes have been proposed in the textiles sector, said a Government official.

Related Keywords: FDI in textile, Indian textile sector, ISDS, market development, powerloom, SITP, techinical textile, textile export, Textile Ministry, TUFS

Resurgence has been witnessed in the Indian textile sector with the introduction of Foreign Direct Investment (FDI). Maximum utilization of FDI has been ensured by the textile minster and his ministry. The government is providing grants under market access initiative and market development assistance scheme for this purpose.

Related Keywords: 29 textile industries, closure, cotton textile industries, export, Indian textile sector, man-made fiber textile industries, overall growth, policy and schemes, production, textile item

The Indian textile sector although has witnessed overall growth in terms of production of textile items and export during the year 2012-13, 2013-14 and 2014-15 (Apr-May). In the last two year about 29 cotton textile industries have closed in India.
 
As per available information, 29 cotton/man-made fibre textile industries were closed in India during last two years and current year as on 31.05.2014, said India’s junior minister of Textiles Santosh Kumar Gangwar while speaking to the lawmakers in Rajya Sabha, upper house of Indian parliament.

Related Keywords: export subsidy, Indian textile sector

Export today is an important tool for India’s economic development. As the Indian textile sector is said to have gone into the area of globally competitive as defined by WTO Law. A product is called competitive when its share reaches at least 3.25 percent in world trade for two consecutive calendar years. Indian textile sector has crossed 3.5 percent share in the global market and so it is not now eligible for export subsidy.

Related Keywords: Indian textile sector, textile exports

The government is setting up exports target at $60 billion for the next financial year (2014-15), a jump of over 30% from the current financial year after having seen the potential and encouraged by the turnaround in the textile exports. Also the concentration on skill development focused on textile sector by the government.