Piyush Goyal, one of the few ministers in Narendra Modi’s administration having more than two portfolios, was saddled with an extra duty in Wednesday’s Cabinet reshuffle.
The Minister of Commerce and Industry, as well as the Minister of Food, Consumer Affairs, and Civil Supplies, is currently in charge of the Textile Ministry.
Goyal’s management of the Textiles portfolio is significant since it may help improve India’s textile exports at a time when the government wants to make India self-sufficient and a global manufacturing powerhouse. The textile sector, which has suffered a decline in export orders for conventional items, has found a silver lining in the last year as it has ventured into manufacturing.
In the April-June quarter of the current fiscal year, India posted its highest-ever goods exports of $95 billion (FY22) This represents an increase of 85% above exports in the first quarter of 2020-21. The government has now established a $400 billion export target for FY22. To do this, Goyal must ensure that sectoral momentum is maintained.
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