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Related Keywords: attract potential investors, current fiscal, India EU free trade agreement, labour intensive sector, lower than the initial target, National Textiles Policy, road shows, set to USD forty five billion, special package for the knitwear industry, stiff competition, Textile and clothing export target, Textile Ministry, zero duty access

The country’s textile and clothing export target is set to $45 billion for the current fiscal, lower than the initial target of $48.5 billion set for the previous fiscal which was missed by a huge margin. Nevertheless the target for 2017-18 represent a 17 percent rise from the actual level of $38.6 billion in 2016-17, according to provisional official estimates.

Related Keywords: bring out strategy paper, Commerce Ministry, competitiveness on downward trend, cotton exports, incentive for textile sector, Indian textile exports, National Textiles Policy, process of rolling out, Textile Ministry, to enhance textile export

India’s textiles exports competitiveness is on downward trend even countries like Sri Lanka and Turkey are more competitive in the sector. The Commerce Ministry is considering bringing out its own strategy paper for the sector to enhance competitiveness of textile exports.

Textiles Ministry, too, is in the process of rolling out a National Textiles Policy, which aims to achieve USD 300 billion exports by 2024-25 and envisages creation of additional 35 million jobs.

Related Keywords: FICCI, National Textiles Policy, Textile Industry, textile industry reforms

India set to boost its textile & clothing industry and raise its share in world export as which Industry body FICCI has recommended some measures like labour reforms and keeping textile industry under the lowest slab of GST.

These recommendations have been submitted to National Manufacturing Competitiveness Council Member Secretary Ajay Shankar, who is also the Chairman of Expert Group on National Textiles Policy constituted by Government of India.