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Related Keywords: done well compared to other sectors on export front, Indian textile industry, lower than the target set, poor market conditions, recessionary trends in Europe and the US markets Government for textile and clothing, subdued trend in exports, TECHNOTEX, textile exports remained flat at USD 40 million, Union Minister Santosh Gangwar

The textile industry despite poor market conditions has done well as compared to other sectors on export front. India’s textile exports remained flat at $40 billion in 2015-16 which is lower than the target of $47.5 billion set by the government for textile and clothing, Union Minister Santosh Kumar Gangwar said after the inauguration of Technotex 2016 conference here.

The industry experts said that the subdued trend in exports was due to recessionary trends in Europe and the US markets. In 2014-15, textile exports stood at $41.4 billion.

Related Keywords: achieve USD three hundred billion textiles exports, address adequate skilled work force, approval from Cabinet, attract investments, create thirty five million jobs, labour reforms, New national textile policy, road map, textile sector, Textile and Clothing industry, Textile Ministry, Union Minister Santosh Gangwar

Textiles Ministry to seek approval for the new national textile policy from Cabinet for which they will be approaching the Cabinet in 10-15 days, said Union Minister Santosh Gangwar today.

The new policy aims to achieve USD 300 billion textiles exports by 2024-25 and envisages creation of additional 35 million jobs.

The policy also aims to address concerns of adequate skilled work force, labour reforms, attract investments in the textile sector, and to provide a future road map for the textile and clothing industry.